earnings
confidence high
sentiment neutral
materiality 0.55
Kingsway Q2 2024 revenue up 1% to $26.4M; net loss widens to $2.2M
KINGSWAY FINANCIAL SERVICES INC
2024-Q2 EPS reported
-$0.18
revenue$52,606,000
- Consolidated revenue $26.4M (+1.0% YoY); Extended Warranty $17.1M, KSX $9.3M.
- Net loss of $2.2M vs. $1.7M in Q2 2023; adjusted EBITDA improved to $2.4M from $1.8M.
- Extended Warranty adjusted EBITDA $1.6M (flat YoY); KSX adjusted EBITDA $1.8M (+5.9% YoY).
- Refinanced Extended Warranty debt with $1M revolver, $15M term loan, $6M DDTL, maturity May 2029.
- Year-to-date repurchased 141,550 shares for $1.1M; total net debt $37.7M as of June 30, 2024.