Kingsway Q1 revenue $26.2M (-0.9% YoY); net loss $2.3M vs prior-year net income of $27.9M

KINGSWAY FINANCIAL SERVICES INC

2024-Q1 EPS reported -$0.09 revenue$26,160,000

Revenue flat at $26.2M; Extended Warranty $16.7M (unchanged), KSX down 2.5% to $9.5M.
Adjusted consolidated EBITDA $2.1M vs $2.4M; combined operating co run-rate EBITDA $16-17M.
Net loss $2.3M vs prior-year net income $27.9M which included $31.6M one-time debt extinguishment gain.
Share repurchase program extended to March 21, 2025; bought back 8,000 shares for $0.1M through May 8.
CEO targets 2-3 acquisitions per year with $1-3M each; net debt $34.9M vs $35.3M at Dec 31, 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

KINGSWAY FINANCIAL SERVICES INC reported three months ended March 31, 2024 results: revenue $26.2 million.

Period: three months ended March 31, 2024
Revenue: $26.2 million
Result: preliminary results

Exact text from the filing

Kingsway Financial Services Inc. ("Kingsway" or the "Company") today announced its operating results for the three months ended March 31, 2024. First Quarter 2024 Consolidated Financial Highlights ● Consolidated revenue decreased 0.9% to $26.2 million for the three months ended March 31, 2024, compared to $26.4 million in the prior year period

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Source: SEC EDGAR

accession 0001437749-24-015362

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