FOA · Finance Of America Companies Inc.

Finance of America Companies Inc. delivered strong Q1 2026 results, with net income from continuing operations of $35 million and basic EPS of $1.93, a significant turnaround from the prior quarter's loss. Total revenues reached $120 million, up 62% from Q4 2025, driven by net portfolio interest income of $66 million and net other income of $54 million, including origination gains and fair value changes. Expenses declined 13% quarter-over-quarter to $84 million, reflecting improved operating leverage. CEO Graham A. Fleming highlighted operational momentum in originations, accelerating volumes in March, and steady improvements in financial results, liquidity, and capital position, with focus on consistent growth ahead. In Retirement Solutions, funded volume grew 6% YoY to $596 million, revenues up 29% to $67 million from better margins, and pre-tax income surged 233% to $10 million. Portfolio Management saw pre-tax income of $36 million, with adjusted net income up 40% YoY to $28 million due to improved portfolio economics. Balance sheet strengthened with cash at $108 million (up 108% YoY), total equity at $438 million (up 11% YoY), and tangible equity at $268 million (up 43% YoY). Completion of Blackstone equity repurchase in February 2026 further bolsters capital structure. Adjusted metrics exceeded consensus, signaling robust execution in home equity financing.