Ambac (AMBC) Reports Q4 EPS of $4.18

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Go back to Ambac (AMBC) Reports Q4 EPS of $4.18

Ambac Reports Fourth Quarter 2022 Results

February 28, 2023 4:10 PM EST

Net income of $175 million ($3.86 per diluted share) and adjusted earnings of $190 million ($4.18 per diluted share)

Reduced debt and accrued interest by $1.8 billion

$121 million net gain related to RMBS representation and warranty litigation settlements

Specialty P&C Insurance premium production of $90 million, up 172% from fourth quarter of 2021

Book Value ($27.85 per share) and Adjusted Book Value ($28.29 per share) up 24% and 22%, respectively, from the prior quarter

NEW YORK--(BUSINESS WIRE)-- Ambac Financial Group, Inc. (NYSE: AMBC) ("Ambac" or "AFG"), a financial services holding company, today reported... More