earnings
confidence high
sentiment positive
materiality 0.70
Finance of America returns to profitability in FY2024; net income $40M, adjusted EBITDA $60M
Finance of America Companies Inc.
- Net income from continuing operations of $40M ($1.78 basic EPS) for FY2024 vs prior-year loss.
- Adjusted net income of $14M ($0.60 adjusted EPS) improved $97M from FY2023.
- Adjusted EBITDA of $60M; reverse mortgage funded volume up 19% YoY.
- Tangible equity grew $80M from end of 2023.
- Q4 reverse mortgage production $534M, outpacing guidance.