Assured Guaranty (AGO) Misses Q3 EPS by 8c

Assured Guaranty (NYSE: AGO) reported Q3 EPS of $0.58, $0.08 worse than the analyst estimate of $0.66. Revenue for the quarter came in at $268 million versus the consensus estimate of $193.5 million.

Non-GAAP Highlights

• Adjusted operating income(2) was $48 million, or $0.58 per share, for third quarter 2020.
• Adjusted operating shareholders’ equity(2) per share and adjusted book value (ABV)(2) per share reached new records of $73.80 and $108.02, respectively, as of September 30, 2020.

“Assured Guaranty achieved the best direct new business production in more than a decade for both the third quarter and the first nine months of 2020, with PVP of $117 million and $264 million, respectively,” said Dominic Frederico, President and CEO. “Our insured par sold in the primary U.S. public finance market totaled $7.5 billion(5) during the third quarter, essentially double the amount we insured during last year’s third quarter, and we continued to lead the municipal bond insurance industry, with a 64% share of the highest quarterly insured new issue par volume since mid-2009. We also continued to execute our capital management and share repurchase strategy in the third quarter.”

For earnings history and earnings-related data on Assured Guaranty (AGO) click here.

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