MBIA (MBI) Misses Q1 EPS by 1c

MBIA (NYSE: MBI) reported Q1 EPS of $0.12, $0.01 worse than the analyst estimate of $0.13.

Adjusted Book Value (ABV) per share (a non-GAAP measure defined in the attached Explanation of Non-GAAP Financial Measures) increased to $31.74 as of March 31, 2016 from $29.69 as of December 31, 2015. The increase in ABV per share was driven primarily by a decrease in common shares outstanding resulting from share repurchases. The Company repurchased 15 million of its common shares during the first quarter of 2016.

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

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