Ambac Financial Group Inc (NYSE:AMBC) Q2 2024 Results Conference Call August 6, 2024 8:00 AM ET
Company Participants
Charles Sebaski - MD & Head of Investor Relation
Claude LeBlanc - President, CEO & Director
David Trick - Executive VP, CFO & Treasurer
Conference Call Participants
Giuliano Bologna - Compass Point
Deepak Sarpangal - Repertoire Partners
Operator
Greetings, and welcome to the Ambac Financial Group Inc Second Quarter 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question and answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
It is now my pleasure to turn the call over to Charles Sebaski, Head of Investor Relations. Please go ahead, sir.
Charles Sebaski
Thank you. Good morning, and welcome to Ambac's second quarter 2024 call to discuss financial results. Speaking today will be Claude LeBlanc, President and CEO; and David Trick, Chief Financial Officer. They will discuss the financial results of our business and the current market environment. And after prepared remarks, we'll take your questions. For those of you following along on the webcast, during prepared remarks, we'll be highlighting some slides from the investor presentation, which can be located on our website.
Our call today includes forward-looking statements. The company cautions investors that any forward-looking statements involve risks and uncertainties and is not a guarantee of future performance. Actual results may differ materially from those expressed or implied in the forward-looking statements due to a variety of factors. Those factors are described under forward-looking statements in our earnings press release, our most recent 10-Q and 10-K filed with the SEC. We do not undertake any obligation to update forward-looking statements.
Also, in our prepared remarks or responses to questions, we may mention some non-GAAP financial measures. Reconciliation of those non-GAAP measures are included in our recent earnings press release, operating supplement and other materials available on the Investors section of our website, ambac.com.
I would now like to turn the call over to Mr. Claude LeBlanc.
Claude LeBlanc
Thank you, Chuck, and welcome to everyone joining today's call. Our reported results for the second quarter were favorable compared to the prior year. We generated a net loss of just under $1 million, adjusted net income of $8 million and consolidated EBITDA of $27 million. David will discuss our financial results in detail shortly. Today, I would like to provide an update on the two strategic announcements we made earlier in the quarter.