Finance Of America Companies Inc. · NYSE:FOA
Finance Of America Companies — Q4 2022 Earnings Presentation
9 slides from Finance Of America Companies's earnings presentation, Mar 13, 2023
Slide 1: Earnings Presentation | Q4 2022
Earnings Presentation | Q4 2022 March 2023 ©2022 Finance of America Companies
Slide 2: Disclaimer
Disclaimer Forward-Looking Statements This presentation includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are not historical facts or statements of current conditions, but
Slide 3: FOA has transformed the business; will strengthen the balance sheet
FOA has transformed the business; will strengthen the balance sheet Transformed the Business • Completed wind down of Mortgage Originations business in Q1 2023 • In Q1 2023, announced sale of Title Insurance and Commercial Originations businesses • Received regulatory approval for acquisition of AAG
Slide 4: On a proforma basis, the company generated $53M in Adjusted Net Income in 2022
On a proforma basis, the company generated $53M in Adjusted Net Income(1) in 2022 $60 $16 $7 $40 $91 $53 $20 $- $(20) $(61) $(40) $(60) $(80) Full Year 2022 Mortgage Originations excl Home Lender Services Commercial Originations ProForma Adjusted Net Loss Improvement Adjusted Net Income 2022 (1) Ple
Slide 5: In Q4, we significantly de-levered the balance sheet
In Q4, we significantly de-levered the balance sheet $3,000 Weighted Average Advance Rate • Commenced with the wind down of the $2,651 Sep-22 87% Mortgage Originations business in Q4 2022. This was completed in Q1 2023 $2,500 Dec-22 82% which will result in further de-levering $2,306 of the balance
Slide 6: Announced transactions should materially increase TNW
Announced transactions should materially increase TNW $200 $180 $160 • The AAG acquisition is expected to $140 generate additional tangible net worth of just over $70(1) million as we acquire the net carrying value of assets with $120 equity and raise additional equity capital $100 $174 • The sale o
Slide 7: Supporting Materials
SUPPORTING MATERIALS FINANCE OF AMERICA COMPANIES | Slide 7
Slide 8: FY 2022 Non-GAAP Reconciliation
FY 2022 Non-GAAP Reconciliation Finance of America Mortgage excl. Lender Commercial Pro-Forma All values through Adjusted Net Income in $ Millions 2022 ANI Home Improvement Services Originations 2022 ANI Pre-tax income (loss) ($732) ($284) ($73) ($31) ($344) Adjustments for: Changes in fair value(1)
Slide 9: Q4 2022 Non-GAAP Reconciliation
Q4 2022 Non-GAAP Reconciliation Finance of America Mortgage excl. Lender Commercial Pro-Forma All values through Adjusted Net Income in $ Millions Q4 2022 ANI Home Improvement Services Originations Q4 2022 ANI Pre-tax income (loss) ($182) ($65) ($65) ($5) ($47) Adjustments for: Changes in fair value
Finance of America Companies — Q4 2022 Earnings Presentation on 6ix