MBIA (MBI) Misses Q2 EPS by 24c

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Go back to MBIA (MBI) Misses Q2 EPS by 24c

MBIA Inc. Reports Second Quarter 2018 Financial Results

August 8, 2018 4:15 PM EDT

PURCHASE, N.Y.--(BUSINESS WIRE)-- MBIA Inc. (NYSE: MBI) (the Company) today reported a consolidated GAAP net loss of $146 million, or $(1.64) per share, for the second quarter of 2018 compared to a consolidated GAAP net loss of $1.2 billion, or $(9.78) per share, for the second quarter of 2017. The net loss for the second quarter of 2018 was driven by the losses associated with the deconsolidation of certain variable interest entities (VIEs) and the additional losses and loss adjustment expenses related to our Puerto Rico exposures. The decrease in year-over-year consolidated GAAP net loss was... More