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Sep 30, 2022
Kingsway Financial Q3 2022 Earnings Report
Kingsway Financial reported a strong operating quarter with increased net income and non-GAAP adjusted income.
Key Takeaways
Kingsway Financial Services Inc. announced its operating results for the three months ended September 30, 2022, reporting a net income of $37.3 million and a non-GAAP adjusted income growth of more than 20% from the prior year quarter. The company completed the sale of PWSC for $51.2 million and entered into option agreements to repurchase five of its six trust preferred debt instruments for $59.4 million.
Completed the sale of its Professional Warranty Service Corporation (PWSC) subsidiary for $51.2 million.
Entered into option agreements to repurchase five of its six trust preferred debt instruments for $59.4 million.
Completed the sale of Flower Portfolio commercial real estate property, resulting in net cash of $5.8 million.
Acquired CSuite Financial Partners under the Kingsway Search Xcelerator Program.
Forward Guidance
No forward guidance provided in the current earnings report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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