- Q2 operating earnings of $266M or $5.70 per share vs. $247.6M and $5.27 in Q1. Adjusted book value per share of $16.49 jumps from $10.64.
- Since starting a warrant repurchase program at the end of June permitting the buyback of up to $10M of warrants, company has repurchased through Aug. 7 539K warrants for $4.7M, bringing float down to 4.5M. The strike price on these is $16.67 per share and the maturity is April 2023.
- Insured portfolio fell 5% to $130B of net par outstanding. Adversely classified credits fell 8% to $23.3B. Reserves have been boosted with respect to Puerto Rico exposure.
- Previously: Ambac Financial EPS of $5.70 (Aug. 10)
- AMBC +7.7%
Ambac +7.7% after big Q2; book value soars
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Symbol | Last Price | % Chg |
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AMBC | - | - |
Ambac Financial Group, Inc. |