Finance of America Q3 net loss $302M; to discontinue Mortgage Originations segment

Finance of America Companies Inc.

2022-Q3 EPS reported -$2.34 revenue$479,654,000

Net loss $302M ($1.35 per share) driven by $116M fair value changes and $138M impairment of intangible/long-lived assets.
Adjusted net loss $20M ($0.10 per share); Mortgage Originations adjusted net loss $27M; SF&S adjusted net income $7M.
Reverse Originations segment generated $34M pre-tax income; company plans to discontinue Mortgage Originations.
Cash $169M after paying down $56M secured debt in Q3.

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 0.99

Finance of America Companies Inc. reported third quarter ended September 30, 2022 results: net income Net loss for the quarter of $302 million or $1.35 basic and diluted loss per share, EPS $1.35 basic and diluted loss per share.

Period: third quarter ended September 30, 2022
Net income: Net loss for the quarter of $302 million or $1.35 basic and diluted loss per share
EPS: $1.35 basic and diluted loss per share
Result: reported results

Exact text from the filing

On November 8, 2022, Finance of America Companies Inc. (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2022.

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

Finance of America Companies Inc. filing history →

Source: SEC EDGAR

accession 0001828937-22-000017

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