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MBIA (MBI) Tops Q3 EPS

November 5, 2019 4:52 PM EST

MBIA (NYSE: MBI) reported Q3 EPS of $1.46, $1.80 better than the analyst estimate of ($0.34).

Book value per share was $12.86 as of September 30, 2019 compared with $12.46 as of December 31, 2018. The increase in book value per share since year-end 2018 was primarily due to lower shares outstanding as a result of the 10.3 million shares of MBIA common stock repurchased by the Company during the first nine months of 2019.

Bill Fallon, MBIA’s Chief Executive Officer noted, “This quarter we repurchased $39.6 million of MBIA common shares and nearly extinguished National’s insured COFINA exposure, with gross par plus accreted interest declining from $1.2 billion at year-end 2018 to $65 million at the end of the third quarter.”

For earnings history and earnings-related data on MBIA (MBI) click here.



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