Assured Guaranty reports Q3 adjusted EPS $3.42, consensus $1.05

“Assured Guaranty achieved important strategic objectives in asset management, new business production and capital management during the third quarter and first nine months of 2023,” said Dominic Frederico, President and CEO. “In July, we completed our transactions with Sound Point Capital Management and AHP, which resulted in a third quarter $241 million pre-tax gain, net of expenses. We now continue our asset management participation through our 30% ownership interest in Sound Point, furthering our strategy of generating fee-based earnings to complement our risk-based financial guaranty earnings. The earnings from that stake will be reflected for the first time in our fourth quarter reporting. We also expect enhanced returns on our investment portfolio based on a broader range of alternative investment options with Sound Point.”