Altisource Q4 2019 Earnings Report
Key Takeaways
Altisource reported a net loss attributable to Altisource of $306.1 million, or $(19.66) per diluted share. Service revenue was $132.6 million, a 37% decrease compared to the fourth quarter 2018. The company's adjusted net income attributable to Altisource was $4.1 million, or $0.26 per diluted share.
Service revenue of $132.6 million
Loss from operations of $(6.5) million
Adjusted operating income of $11.3 million
Adjusted EBITDA of $15.6 million
Altisource
Altisource
Forward Guidance
Looking to 2020, Altisource's objectives are to accelerate the growth of their core businesses from customers other than Ocwen and NRZ, lower costs, maintain strong liquidity, and reduce debt based upon business and market conditions. They anticipate growing business from other customers by 25% to 35% in 2020 despite historically low delinquency rates and believe they are in a very strong position to benefit from growing loan originations and a softening economy.
Positive Outlook
- Accelerate the growth of our core businesses from customers other than Ocwen and NRZ
- Lower costs
- Maintain strong liquidity
- Reduce debt based upon business and market conditions
- Growing business from other customers by 25% to 35% in 2020 despite historically low delinquency rates