NYSE$OSG
Octave Specialty Group Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Reported net income of $175 million and adjusted earnings of $190 million, reduced debt and accrued interest by $1.8 billion, and saw specialty P&C Insurance premium production increase by 172%.
Ambac Financial Group, Inc. reported a strong fourth quarter with net income of $175 million and adjusted earnings of $190 million. The company reduced debt and accrued interest by $1.8 billion and experienced significant growth in its Specialty P&C Insurance business. Book value and adjusted book value per share also saw substantial increases.
- Net income attributable to common stockholders was $175 million, or $3.86 per diluted share.
- Adjusted earnings were $190 million, or $4.18 per diluted share.
- Debt and accrued interest reduced by $1.8 billion.
- Specialty P&C Insurance premium production increased 172% to $90 million.
Headline financials
Revenue & EPS history
Ambac · Revenue · Quarterly
$219M
Revenue by segment
Ambac · $14.6M total across 1 segment · Q3 2023
- Insurance Distribution$14.6M+100.0%100.0%
Forward guidance
Ambac is well-positioned to progress its strategic priorities for 2023 and beyond, focusing on growing its Specialty P&C businesses and continuing to manage its legacy business.
Tailwinds
- Settlement of legacy RMBS litigations for approximately $2 billion.
- Resolution of HTA, the final remaining Puerto Rico exposure.
- Significant reduction of financial leverage by redeeming and repurchasing $1.8 billion of debt and accrued interest.
- 24% growth in book value in the quarter.
- Continued material progress and growth of Specialty P&C businesses.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2022
+0.4%
Avg return
Earnings day
+1.5%
Avg return
5 days after
-0.4%
Avg return
30 days after
47%
24 / 51 earnings
Positive
+23.0%
Q1 2024
Best reaction
-19.9%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.7% | +26.9% | +24.9% | |
| Q3 2025 | +15.6% | +9.6% | -3.7% | |
| Q2 2025 | -15.9% | -0.8% | +9.8% | |
| Q1 2025 | -19.9% | -3.7% | -18.6% | |
| Q4 2024 | -10.8% | -22.4% | -25.8% | |
| Q3 2024 | +11.0% | +6.3% | +13.9% | |
| Q1 2024 | +23.0% | +23.8% | -5.9% | |
| Q4 2023 | +1.6% | -2.9% | -6.2% | |
| Q3 2023 | +7.2% | +17.1% | +19.9% | |
| Q2 2023 | -5.1% | -1.9% | -8.3% | |
| Q1 2023 | -3.1% | -3.1% | -7.1% | |
| Q4 2022 | +5.4% | +4.3% | -7.3% | |
| Q3 2022 | +0.7% | +12.0% | +21.7% | |
| Q2 2022 | +15.5% | +33.6% | +31.3% | |
| Q1 2022 | +6.2% | +15.1% | +51.7% | |
| Q4 2021 | -6.5% | -14.0% | -38.3% | |
| Q3 2021 | -4.0% | -2.5% | -7.9% | |
| Q2 2021 | -3.7% | -1.0% | -3.7% | |
| Q1 2021 | -11.4% | -16.5% | -9.2% | |
| Q4 2020 | -1.1% | +0.2% | -1.2% | |
| Q3 2020 | +12.2% | +10.0% | +36.8% | |
| Q2 2020 | +2.5% | +4.7% | -3.5% | |
| Q1 2020 | -16.4% | -25.1% | -15.3% | |
| Q4 2019 | -1.6% | -2.3% | -40.8% | |
| Q3 2019 | -0.1% | -0.4% | +1.3% | |
| Q2 2019 | +0.1% | +1.6% | +1.8% | |
| Q1 2019 | -8.5% | -8.8% | -20.0% | |
| Q4 2018 | +3.6% | +2.3% | -7.9% | |
| Q3 2018 | -10.1% | -12.3% | -22.3% | |
| Q2 2018 | +5.8% | +5.4% | +2.0% | |
| Q1 2018 | +8.3% | +10.2% | +17.5% | |
| Q4 2017 | +0.1% | -0.9% | +3.4% | |
| Q3 2017 | -13.9% | -9.7% | -3.2% | |
| Q2 2017 | -0.5% | -4.4% | -10.7% | |
| Q1 2017 | -5.6% | -5.8% | -7.1% | |
| Q4 2016 | -0.5% | +1.8% | -15.4% | |
| Q3 2016 | +9.8% | +14.5% | +35.6% | |
| Q2 2016 | -4.1% | -3.9% | +1.3% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | +9.0% | — | — | |
| Q3 2015 | -6.2% | — | — | |
| Q2 2015 | +14.4% | — | — | |
| Q1 2015 | +6.4% | — | — | |
| Q4 2014 | -0.9% | — | — | |
| Q3 2014 | +5.8% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | +7.3% | — | — | |
| Q4 2012 | +7.3% | — | — | |
| Q2 2013 | -1.4% | — | — | |
| Q1 2013 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2010 | — | — | — |
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