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Dec 31, 2022
MBIA Q4 2022 Earnings Report
Reported a consolidated GAAP net loss, driven by lower losses and LAE at National due to its Puerto Rico exposure.
Key Takeaways
MBIA Inc. reported a consolidated GAAP net loss of $52 million, or $(1.05) per diluted common share, for the fourth quarter of 2022, compared to a net loss of $155 million in the fourth quarter of 2021. The company's adjusted net income for the fourth quarter of 2022 was $15 million, or $0.30 per share, compared to an adjusted net loss of $106 million in the fourth quarter of 2021. The improved results were primarily due to lower losses and LAE at National, driven by its Puerto Rico exposure.
MBIA Inc. recorded a consolidated GAAP net loss of $52 million, or $(1.05) per diluted common share.
Adjusted Net Income for the fourth quarter of 2022 was $15 million or $0.30 per share.
National's insured HTA exposure has been extinguished after the restructuring of the Puerto Rico Highways and Transportation Authority (HTA) bonds was implemented.
An agreement was reached concerning PREPA, which has been incorporated into the Amended Plan of Adjustment filed by the Puerto Rico Financial Oversight and Management Board.
Forward Guidance
MBIA continues to explore potential strategic alternatives for the Company with its advisor, Barclays Capital.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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