Finance of America Companies Inc. reported a GAAP net income from continuing operations of $204 million, or $8.48 basic earnings per share, for the third quarter ended September 30, 2024. This marks a significant improvement from a $172 million loss in the prior year quarter.
The company achieved an adjusted net income of $15 million, or $0.67 adjusted earnings per share, for the quarter, alongside total revenues of $290 million. Funded volume reached $513 million, representing a 15% increase sequentially.
The Retirement Solutions segment reported $64 million in total revenue and $19 million in adjusted net income, while the Portfolio Management segment saw total revenue surge to $235 million with $12 million in adjusted net income. Total equity increased to $456 million, an 82% rise from the previous quarter.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.