By Connor Hart
Shares of Finance of America Companies fell after the firm swung to a loss in the fourth quarter, hurt by higher income expenses.
The stock tumbled 21%, to $16.80, in after-hours trading Tuesday. Shares have nearly tripled in the past 52 weeks, despite having lost a quarter of their value so far in 2025.
The Plano, Texas, company, which provides mortgage loans and other financing solutions, after the bell posted a loss of $142.6 million, or $5.95 a share, compared with net income of $164.7 million, or $5.35 a share, a year earlier.
Adjusted earnings came in at 21 cents a share.
Net portfolio interest income rose to $69.2 million from $68.7 million. Higher income expenses, though, resulted in total revenues of negative $105.6 million for the recent quarter, compared with positive $275.7 million a year earlier.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 11, 2025 17:29 ET (21:29 GMT)
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