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Earnings Call Summary | MBIA(MBI.US) Q1 2024 Earnings Conference

moomoo AI ·  May 10 15:38  · Conference Call

The following is a summary of the MBIA Inc. (MBI) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • MBIA Inc. reported a consolidated GAAP net loss of $86 million or a negative $1.84 per share for Q1 2024.

  • The adjusted net loss for Q1 2024 was $24 million or a negative $0.52 per share.

  • The company's book value decreased to a negative $33.80 per share, down from the previous quarter.

Business Progress:

  • The company's remaining exposure to PREPA was significant, with rulings on debt restructuring yet to be delivered.

  • There was a decline in the gross par amount outstanding for National's insured portfolio to $27.8 billion at the end of Q1 2024, but total claims paying resources and statutory capital surplus remained consistent.

  • Debt retirement was undertaken which reduced euro exchange rate volatility and freed up cash for future liability repurchases.

More details: MBIA IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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