Ambac (AMBC) Tops Q3 EPS by $1.04

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Go back to Ambac (AMBC) Tops Q3 EPS by $1.04

Ambac Reports Third Quarter 2019 Results

November 7, 2019 4:06 PM EST

Net Income of $66.1 million or $1.41 per diluted share for the Quarter Ended September 30, 2019 and an increase in Book Value per Share of $1.66 to $34.44 at September 30, 2019 from June 30, 2019. Third quarter net income was driven by a $142.2 million gain from the previously reported SEC-Citigroup settlementAdjusted Earnings(1) of $76.8 million or $1.63 per diluted share for the Quarter Ended September 30, 2019 and an increase in Adjusted Book Value per Share of $0.74 to $30.31 at September 30, 2019 from June 30, 2019Active de-risking initiatives lead to a $1.5 billion or an 8.8% reduction in Adversely Classified and Watch... More