- Second Quarter 2024 Total Revenue More Than Doubled Year-over-Year to $29.1 Million - - Net Income of $0.8 Million; Adjusted Net Income Grows 75% Year-over-Year to $11.8 Million - - Adjusted EBITDA Grows 83% Year-over-Year to $16.7 Million - ORLANDO, Fla., Aug. 12, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in longevity and actuarial technology, today reported results for the second quarter ended June 30, 2024. ...

Company Overview - Abacus Life, Inc. (ABL) shares increased by 20.3% to close at $10.08, following a notable trading volume, contrasting with a 14.1% loss over the past four weeks [1] - The company expects second quarter revenues between $28 million and $30 million, significantly higher than the previous year's $11 million [1] - Abacus anticipates adjusted EBITDA of $15 million to $17 million and net income between $0 million and $1 million [1] Recent Developments - Abacus Life has agreed to acquire Carlisle Management Company, which will add $2 billion in assets under management, enhancing its position as a global alternative asset manager [2] - The company is shifting towards direct-to-consumer distribution, moving away from higher-cost intermediaries, which is expected to support growth [2] - Abacus operates in a market with substantial growth potential and has opportunities for increased market penetration [2] Earnings Expectations - The consensus EPS estimate for Abacus Life for the upcoming quarter is $0.12, reflecting a year-over-year decline of 7.7% [2] - Revenue expectations for the upcoming report are $22.82 million, representing a 100.5% increase from the same quarter last year [2] Market Trends - Trends in earnings estimate revisions are correlated with stock price movements, and the consensus EPS estimate for Abacus has remained unchanged over the last 30 days [3] - The stock currently holds a Zacks Rank of 3 (Hold), indicating a neutral outlook [3] Industry Context - Abacus Life is part of the Zacks Insurance - Life Insurance industry, which includes other companies like Brighthouse Financial (BHF) [3] - BHF's consensus EPS estimate has increased by 0.3% to $4.36, showing a year-over-year change of 5.6% [4]

- Expects Total Revenue Between $28.0 and $30.0 Million; Grows 146-163% Year-over-Year - - Expects Net Income Between $0.0 and $1.0 Million - - Expects Adjusted EBITDA Between $15.0 and $17.0 Million; Grows 64-86% Year-over-Year - - Schedules Second Quarter 2024 Earnings Release and Conference Call for Monday, August 12, 2024 - ORLANDO, Fla., July 18, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in longevity and act ...

Acquisition accelerates Abacus' expansion as a global alternative asset manager and origination company Deal will add up to $2 billion in AUM to Abacus ORLANDO, Fla., July 18, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. ("Abacus" or the "Company") (NASDAQ:ABL), a leading buyer of life insurance policies and vertically integrated alternative asset manager specializing in specialty insurance products, today announced a definitive agreement to acquire Carlisle Management Company SCA ("Carlisle"), a leading Luxe ...

ORLANDO, Fla., June 24, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. ("Abacus" or the "Company") (NASDAQ:ABL), a pioneering alternative asset manager specializing in longevity and actuarial technology, today announced the closing of its oversubscribed underwritten public offering of 11,500,000 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 1,500,000 shares of common stock, at the public offering price of $8.00 per share. The gross proce ...

ORLANDO, Fla., June 24, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in longevity and actuarial technology, today announced the closing of its oversubscribed underwritten public offering of 11,500,000 shares of its common stock, including the exercise in full by the underwriters of their option to purchase an additional 1,500,000 shares of common stock, at the public offering price of $8.00 per share. The gross proc ...

Abacus Life (NASDAQ:ABL) stock is falling on Friday after the alternative asset manager and market maker announced the pricing of a public offering for its shares.Abacus Life is selling 10 million shares of ABL stock for $8 each. The offer also includes a 30-day option for underwriters to acquire another 1.5 million shares. Piper Sandler & Co., TD Securities (USA) LLC, B. Riley Securities and KKR Capital Markets LLC are the joint book-running managers for the underwriters.Abacus Life notes that it expects g ...

Loading... Loading... U.S. stock futures were slightly lower this morning, with the Dow futures falling around 0.1% on Friday. Shares of Smith & Wesson Brands, Inc. SWBI fell sharply in today's pre-market trading after the company reported its fourth-quarter financial results. Smith & Wesson reported quarterly earnings of 45 cents per share, which beat the analyst consensus estimate of 34 cents. Quarterly sales came in at $159.1 million, which beat the analyst consensus estimate of $156.796 million, accordi ...

ORLANDO, Fla., June 20, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. ("Abacus" or the "Company") (NASDAQ:ABL), a pioneering alternative asset manager specializing in longevity and actuarial technology, today announced the pricing of its oversubscribed underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $8.00 per share. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of comm ...

ORLANDO, Fla., June 20, 2024 (GLOBE NEWSWIRE) -- Abacus Life, Inc. (“Abacus” or the “Company”) (NASDAQ: ABL), a pioneering alternative asset manager specializing in longevity and actuarial technology, today announced the pricing of its oversubscribed underwritten public offering of 10,000,000 shares of its common stock at a price to the public of $8.00 per share. In connection with the offering, the Company also granted the underwriters a 30-day option to purchase up to an additional 1,500,000 shares of com ...