Finance Of America Companies Inc ( (FOA) ) has released its Q1 earnings. Here is a breakdown of the information Finance Of America Companies Inc presented to its investors.
Finance of America Companies Inc., headquartered in Plano, Texas, is a leading provider of home equity-based financing solutions, specializing in modern retirement options and capital markets services. The company operates primarily in the financial services sector, focusing on reverse mortgages and portfolio management.
In its first quarter of 2025 earnings report, Finance of America announced a robust performance with significant increases in earnings and funded volumes. The company reported $3.17 in basic earnings per share and $80 million in net income from continuing operations, reflecting a strong start to the year.
Key financial highlights include a 32% increase in funded volume to $561 million compared to the same quarter last year, surpassing the high end of the company’s guidance range. Adjusted net income improved by $20 million year-over-year, driven by higher volumes and reduced operational expenses. Additionally, the company’s total equity rose by 25% to $395 million, and tangible equity saw an 89% increase from the end of 2024.
The company’s Retirement Solutions segment reported a 13% increase in total revenue and a 175% improvement in pre-tax income compared to the first quarter of 2024. The Portfolio Management segment also showed substantial growth, with a 650% increase in pre-tax income year-over-year, attributed to positive fair value adjustments and increased accreted yield.
Looking ahead, Finance of America remains optimistic about its growth prospects, supported by the launch of a new brand platform and national advertising campaign aimed at increasing awareness and adoption of reverse mortgages. The company is poised to build on its momentum and continue delivering value to its stakeholders.