Welcome to our dedicated page for Kingsway Finl news (Ticker: KFS), a resource for investors and traders seeking the latest updates and insights on Kingsway Finl stock.
Kingsway Financial Services Inc. (NYSE: KFS) regularly issues news and updates that reflect its role as a Search Fund–driven acquirer and operator of asset-light, recurring-revenue services businesses. This news page aggregates press releases and third-party coverage related to Kingsway’s financial results, acquisitions, and segment developments.
Recent announcements highlight quarterly earnings results for the Kingsway Search Xcelerator (KSX) and Extended Warranty segments, including revenue trends and reconciliations of GAAP net income (loss) to non-GAAP adjusted EBITDA. Investors following KFS news can review how management characterizes segment performance, cash sales in Extended Warranty, and the contribution of newly acquired businesses to Kingsway’s run-rate adjusted EBITDA.
Another major category of Kingsway news involves acquisition activity. Press releases describe KSX transactions such as the purchase of Roundhouse Electric & Equipment Co., Inc. in industrial electric motor services, the acquisitions of AAA Flexible Pipe Cleaning Corp (Advanced Plumbing and Drain) and Southside Plumbing in commercial and residential plumbing services, and the expansion of Ravix Group, Inc. through its acquisitions of The HR Team, Inc. and Ledgers, Inc. These announcements often detail transaction structure, expected unaudited revenue and adjusted EBITDA, and how each business fits Kingsway’s focus on asset-light, recurring-revenue services.
News items also cover capital markets and corporate actions, including a 2025 private placement of common stock and the related S-1 registration statement for resale of shares issued in that transaction and in connection with an acquisition. In addition, Kingsway publishes notices about upcoming and completed earnings conference calls, providing dial-in details and webcast links for investors.
By reviewing the KFS news feed, readers can track how Kingsway executes its public Search Fund strategy, adds new operating companies, and reports segment-level performance over time. Investors and researchers may wish to revisit this page regularly for the latest earnings releases, acquisition announcements, and corporate updates.
Kingsway Financial Services (KFS) announced its Q3 2022 results, achieving a net income of $37.3 million, a significant recovery from a net loss of $0.2 million in the same quarter last year. The company successfully sold its subsidiary PWSC for $51.2 million, yielding net proceeds of $37.2 million. Cash provided by operating activities for the nine months was $9.3 million compared to a cash outflow of $8.0 million in 2021. Cash and cash equivalents surged to $48.6 million from $12.6 million at year-end 2021, signaling strong financial health.
Kingsway Financial Services (KFS) has completed its acquisition of CSuite Financial Partners for $8.5 million. This acquisition, the second under the Kingsway Search Xcelerator Program, is expected to be immediately accretive.
CSuite generated $9.4 million in unaudited revenue and $0.9 million in U.S. GAAP income before income taxes for the twelve months ending July 31, 2022. The deal will enhance Kingsway's service offerings alongside its existing subsidiary, Ravix, aiming to provide a comprehensive suite of financial management services to clients.
Kingsway Financial Services Inc. (KFS) announced it will report its financial results for the three and nine months ended September 30, 2022, on November 10, 2022. A conference call will follow at 5:00 PM ET to discuss these results. Investors can access the call via toll-free and international numbers, and a live webcast is available. Kingsway operates across various sectors including extended warranty and asset management. The date of the earnings report is significant for stakeholders looking to assess the company's performance in the recent quarter.
Kingsway Financial Services (KFS) reported its Q2 2022 results, showing a net loss of $2.4 million, compared to a net loss of $0.3 million in Q2 2021. Operating cash flow improved by $17.7 million, totaling $6.2 million for the first half of 2022. The company sold Professional Warranty Service Corporation for $51.2 million, receiving $37.2 million in cash, with potential additional earnings. Furthermore, KFS announced an option to repurchase a significant portion of its debt at a discount, aiming to enhance shareholder value.
PWSC has launched a revolutionary warranty program targeting the build-to-rent housing sector, providing 10 years of structural insurance alongside comprehensive system and appliance protection. This program addresses a significant gap in the market, where build-to-rent properties often lack adequate warranty options. As rental properties gain prominence, this initiative aims to safeguard investors against potential construction defects, fostering better relationships among builders, property managers, and investors. PWSC’s HomePRO warranty is structured for B2B needs, enhancing operational efficiency in property management.
Kingsway Financial Services Inc. (KFS) announced the appointment of Charles Frischer to its Board of Directors and Audit Committee on May 20, 2022. Frischer, who owns approximately 7% of the company's stock, will also join the newly created Real Estate Committee. Chairman Terence M. Kavanagh expressed confidence that Frischer's expertise in financial services and real estate will benefit the company and its shareholders. Frischer anticipates that Kingsway will experience significant growth in the upcoming years, particularly through its search accelerator program.
Kingsway Financial Services Inc. (KFS) reported operating results for Q1 2022, showing improved cash flow of $3.8 million, compared to a cash deficit of $1.9 million a year prior. However, the company incurred a net loss of $2.5 million, a decline from a net profit of $0.9 million in Q1 2021. The Extended Warranty segment saw operating income drop to $1.7 million from $5.3 million. Adjusted EBITDA for this segment also decreased. The company paid down $1.7 million in debt during the quarter, with total debt payments reaching $2.6 million since the end of 2021.
Kingsway Financial Services Inc. (KFS) announced the formation of a Strategic Advisory Board for its new Kingsway Search Xcelerator (KSX) segment. This initiative aims to enhance strategic thinking, acquisition analysis, and operational execution within KSX. Notable members include Thomas P. Joyce, Jr., former CEO of Danaher Corporation, and William N. Thorndike, Jr., Managing Partner of The Cromwell Harbor Partnership. Their extensive experience is expected to provide a significant competitive advantage and contribute positively to the strategic direction of KSX.
Kingsway Financial Services Inc. (KFS) reported a net income of $1.9 million for the twelve months ending December 31, 2021, a significant recovery from a net loss of $5.4 million in 2020. Non-GAAP adjusted income rose to $11.7 million, up from a loss of $0.6 million. The Extended Warranty segment operating income increased to $12.6 million, compared to $6.6 million in 2020. Despite non-cash revenue adjustments, Kingsway acquired Ravix Financial Inc. in October 2021 and continued to focus on strategic investments, including the acquisition of RoeCo Lafayette, LLC.
Professional Warranty Service Corporation (PWSC) has unveiled a new logo and website to reflect its expansion into comprehensive risk management solutions beyond just new home warranties. The rebranding aims to showcase PWSC's evolution from a warranty provider to a holistic risk management partner for homeowners and property managers. PWSC offers warranties covering various aspects of home structures, including resale and rental properties. With over 1.7 million homes protected, the company emphasizes its commitment to servicing diverse needs in the residential construction and real estate industries.
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