Ambac (AMBC) Reports Q3 Loss Per Share of $3.30

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Go back to Ambac (AMBC) Reports Q3 Loss Per Share of $3.30

Ambac Announces Third Quarter 2017 Results

November 8, 2017 5:31 PM EST

Net Loss of $(190.9) million or $(4.20) per Diluted Share and Adjusted Loss1 of $(149.8) million or $(3.30) per Diluted Share for the Quarter Ended September 30, 2017 primarily as a result of adverse Puerto Rico reserve developmentBook Value per Share decreased $3.67 to $33.33 and Adjusted Book Value1 per Share decreased $3.79 to $24.56 at September 30, 2017 from June 30, 2017Ambac continues to execute on key strategic priorities: Insured net par reduction of $4 billion, or 6%, to $67 billion enhanced by proactive loss mitigation strategiesCorporate reorganization executed, reducing headcount by 19% and compensation expenses by approximately 20% or $8.5 million... More