NYSE:FOADiversified Financial
Finance of America (FOA) Stock Price Falls As GAAP Loss Clouds Cash Flow
Finance of America Companies dropped about 6% today, extending a rough month for the stock, even though the headline story out of Q2 is not simple disappointment. The market is reacting to another quarter with a GAAP loss, yet the core engine of the business is telling a different story.
The key issue this time is the earnings gap between cash generation and reported profit. Management is pointing to US$58 million of Q2 cash flow from originations and capital markets and reaffirmed full year...