Overview

* Finance of America ( FOA ) Q3 revenue missed analyst expectations

* Adjusted EPS for Q3 beats consensus, driven by origination gains and fee income

* Company announces strategic partnership with Better.com to expand product offerings

Outlook

* Company did not provide specific future guidance

Result Drivers

* MODEL ASSUMPTIONS - Q3 net loss attributed to changes in model assumptions related to home price appreciation

* ORIGINATION GAINS - Adjusted net income improved due to origination gains and fee income

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Miss $81 mln $101.90

Revenue mln (1

Analyst)

Q3 Beat $1.33 $0.67 (1

Adjusted Analyst)

EPS

Q3 EPS -$1.22

Q3 Beat $33 mln $18.60

Adjusted mln (1

Net Analyst)

Income

Q3 $55 mln

Adjusted

EBITDA

Analyst Coverage

* The one available analyst rating on the shares is "hold"

* The average consensus recommendation for the investment management & fund operators peer group is "buy."

* Wall Street's median 12-month price target for Finance of America Companies Inc ( FOA ) is $32.00, about 30.6% above its November 3 closing price of $22.21

* The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 7 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)