Ambac (AMBC) Reports Much Wider Q1 Loss of $5.75/Share

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Go back to Ambac (AMBC) Reports Much Wider Q1 Loss of $5.75/Share

Ambac Reports First Quarter 2020 Results

May 11, 2020 4:15 PM EDT

NEW YORK--(BUSINESS WIRE)-- Ambac Financial Group, Inc. (NYSE: AMBC) ("Ambac"), a financial services holding company whose subsidiaries include Ambac Assurance Corporation ("AAC") and Ambac Assurance UK Limited ("Ambac UK"), guarantors of financial obligations in run-off, today reported a Net Loss attributable to common stockholders of $280 million or $6.07 per diluted share and an Adjusted Loss(1) of $265 million or $5.75 per diluted share for the quarter ended March 31, 2020. This compares to a Net Loss attributable to common stockholders of $110 million or $2.40 per diluted share and an Adjusted Loss of $88 million or $1.91 per diluted share in... More