Altisource Portfolio Solutions S.A.(ASPS)

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Altisource Portfolio Solutions S.A.(ASPS) - 2023 Q4 - Earnings Call Transcript
2024-03-07 18:38
Altisource Portfolio Solutions S.A. (NASDAQ:ASPS) Q4 2023 Earnings Conference Call March 7, 2024 8:30 AM ET Company Participants Michelle Esterman - CFO Bill Shepro - Chairman and CEO Conference Call Participants Raj Sharma - B. Riley Mike Grondahl - Northland Operator Hello and thank you for standing by. Welcome to Altisource Fourth Quarter 2023 Earnings Conference Call. At this time, all participants are in a listen-only mode. After speakers' presentation, there will be a question-and-answer session. [Ope ...
Altisource Portfolio Solutions S.A.(ASPS) - 2023 Q4 - Earnings Call Presentation
2024-03-07 16:00
ALTISOURCE FOURTH QUARTER 2023 SUPPLEMENTARY INFORMATION MARCH 7, 2024 DISCLAIMER This presentation contains forward-looking statements that involve a number of risks statements are subject include, but are not limited to, risks related to the COVID-19 and uncertainties. These forward-looking statements include all statements that are pandemic, customer concentration, the timing of the anticipated increase in default not historical fact, including statements that relate to, among other things, future relate ...
Altisource Portfolio (ASPS) Reports Q4 Earnings: What Key Metrics Have to Say
Zacks Investment Research· 2024-03-07 15:31
Core Insights - Altisource Portfolio Solutions (ASPS) reported a revenue of $32.21 million for the quarter ended December 2023, reflecting a year-over-year decline of 1.8% [1] - The earnings per share (EPS) for the quarter was -$0.37, an improvement from -$0.45 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $34.36 million, resulting in a surprise of -6.25% [1] - The company experienced an EPS surprise of -12.12%, with the consensus EPS estimate being -$0.33 [1] Revenue Breakdown - Service revenue was reported at $32.21 million, compared to the average estimate of $34.35 million, indicating a year-over-year change of -1.8% [2] - Revenue from non-controlling interests was $0.07 million, significantly lower than the estimated $0.33 million, representing a decline of 37.6% year-over-year [2] - Reimbursable expenses revenue was $1.88 million, slightly above the average estimate of $1.66 million, showing a minimal year-over-year change of -0.3% [2] Stock Performance - Over the past month, shares of Altisource Portfolio have returned +10.2%, outperforming the Zacks S&P 500 composite's +3.2% change [2] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [2]
Altisource Portfolio Solutions (ASPS) Reports Q4 Loss, Misses Revenue Estimates
Zacks Investment Research· 2024-03-07 14:35
Company Performance - Altisource Portfolio Solutions reported a quarterly loss of $0.37 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.33, but an improvement from a loss of $0.45 per share a year ago [1] - The company posted revenues of $32.21 million for the quarter, missing the Zacks Consensus Estimate by 6.25% and down from $32.81 million year-over-year [1] - Over the last four quarters, the company has surpassed consensus EPS estimates only once and has missed revenue estimates three times [1] Stock Performance - Altisource Portfolio shares have declined approximately 17.7% since the beginning of the year, contrasting with a 7% gain in the S&P 500 [2] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [4] Earnings Outlook - The consensus EPS estimate for the upcoming quarter is -$0.34 on revenues of $35.15 million, while the estimate for the current fiscal year is -$1.30 on revenues of $163.67 million [4] - The trend of estimate revisions for Altisource Portfolio is mixed, which could change following the recent earnings report [4] Industry Context - The REIT and Equity Trust industry, to which Altisource Portfolio belongs, is currently ranked in the bottom 33% of over 250 Zacks industries, indicating potential challenges ahead [5] - The performance of Altisource Portfolio may be influenced by the overall outlook of the industry [5]
Altisource Announces Fourth Quarter and Full Year 2023 Financial Results
Newsfilter· 2024-03-07 12:07
Company Performance - Altisource Portfolio Solutions reported a service revenue of $136.6 million for the full year 2023, with a loss before income taxes of $(52.3) million and a net loss attributable to Altisource of $(56.3) million [6][7] - The company improved its total Adjusted EBITDA by $15.7 million in 2023 compared to 2022, with margins in the Servicer and Real Estate segments increasing to 25% from 18% [3][4] - In the fourth quarter of 2023, service revenue was $32.2 million, with a net loss attributable to Altisource of $(13.2) million [7][8] Business Segments - Service revenue in the Servicer and Real Estate segment was only down 4%, while the Origination segment outperformed the market with an 11% decline compared to a 36% decline in industrywide residential origination volume [4][5] - Adjusted EBITDA in the Business Segments improved by $7.8 million (30%) to $34.2 million in 2023 compared to 2022 [4] - The company ended 2023 with a weighted average sales pipeline estimated between $43 million and $53 million [4] Industry Context - Industrywide mortgage origination volume decreased by 36% in 2023 compared to 2022, while foreclosure initiations were 4% lower than in 2022 [5] - The industrywide early-stage mortgage delinquencies increased by 15% in December 2023 compared to December 2022 [5] - The seriously delinquent mortgage rate decreased to 1.3% in December 2023 compared to 1.6% in December 2022 [5] 2024 Financial Guidance - For 2024, the company forecasts service revenue to be in the range of $155 million to $180 million, representing a growth of 13% to 32% compared to 2023 [2][10] - Adjusted EBITDA is anticipated to be in the range of $17.5 million to $22.5 million, driven by revenue growth and lower corporate costs [2][10]
Altisource Portfolio Solutions S.A.(ASPS) - 2023 Q4 - Annual Report
2024-03-06 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 1-34354 ALTISOURCE PORTFOLIO SOLUTIONS S.A. (Exact name of registrant as specified in its Charter) Luxembourg 98-0554932 (State or other ...
Altisource Portfolio Solutions S.A.(ASPS) - 2023 Q4 - Annual Results
2024-03-06 16:00
Exhibit 99.1 | --- | --- | |---------------------------|------------------------------------------------------------------------------------------------------------------| | | | | | | | | | | FOR IMMEDIATE RELEASE | FOR FURTHER INFORMATION CONTACT: | | | Michelle D. Esterman Chief Financial Officer T: (770) 612-7007 E: Michelle.Esterman@altisource.com | ALTISOURCE ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 FINANCIAL RESULTS Luxembourg, March 7, 2024 - Altisource Portfolio Solutions S.A. ("Altisource" or th ...
Lenders One Brings Together Its Members and Providers to Help Members Increase Profitability During Challenging Markets
Newsfilter· 2024-03-04 16:00
Core Insights - Lenders One Cooperative (L1) is hosting its annual summit in Los Angeles, focusing on strengthening its member network and enhancing service offerings [1][4] - Since March 2023, L1 has added 39 new members and improved its direct solutions to support its mission of maximizing revenue and reducing costs for its members [2][5] Company Developments - Lenders One has introduced various direct solutions including credit reporting, flood zone determinations, and homeowners insurance to enhance member services [2] - The launch of L1 Credit, a full credit reporting agency, provides members with essential credit-related products necessary for loan manufacturing [2] - L1 Flood offers flood zone determinations accepted by major mortgage investors, ensuring compliance with the National Flood Insurance Program [2] - L1 Insurance, in collaboration with CastleLine and Policygenius, provides competitive homeowners insurance quotes, streamlining the loan closing process [2] Capital Market and National Program Solutions - Lenders One has expanded its Capital Markets and National Programs offerings, adding three new Preferred Providers: FICO, OptiFunder, and Truv [3] - FICO provides a standard measure of consumer credit risk used by 90% of top US lenders, enhancing risk management [3] - OptiFunder offers a Warehouse Management System that optimizes warehouse allocation and reduces finance expenses for originators [3] - Truv automates verification of income and employment, now approved as a Freddie Mac AIM provider, improving efficiency in mortgage lending [3] Industry Context - Lenders One members collectively originated approximately $485 billion in mortgages during 2022, making it the largest retail mortgage entity in the U.S. [5] - The cooperative aims to help its members navigate the challenging mortgage origination environment by providing innovative solutions and support [2][4]
Altisource Portfolio Solutions S.A. Schedules Fourth Quarter 2023 Conference Call
Newsfilter· 2024-02-22 17:52
Core Viewpoint - Altisource Portfolio Solutions S.A. is set to report its earnings for the fourth quarter and full year of 2023 on March 7, 2024, indicating a significant upcoming event for stakeholders [1]. Group 1: Earnings Report - The earnings report will include results for both the fourth quarter and the full year of 2023 [1]. - A press release and presentation will be accessible on Altisource's website in the Investor Relations section [1]. - A conference call is scheduled for 8:30 a.m. EST on the same day to discuss the results, with a live audio webcast available [1]. Group 2: Company Overview - Altisource Portfolio Solutions S.A. operates as an integrated service provider and marketplace for the real estate and mortgage industries [2]. - The company combines operational excellence with innovative services and technologies to address the demands of changing markets [2]. - Additional information about the company can be found on its website [2].
Altisource Portfolio Solutions S.A. Schedules Fourth Quarter 2023 Conference Call
Globenewswire· 2024-02-22 17:52
LUXEMBOURG, Feb. 22, 2024 (GLOBE NEWSWIRE) -- On Thursday, March 7, 2024, Altisource Portfolio Solutions S.A. (“Altisource”) (NASDAQ: ASPS) will report earnings for the fourth quarter and full year 2023. A press release and presentation will be available on Altisource’s website in the Investor Relations section. Altisource will also host a conference call at 8:30 a.m. EST on the same day to discuss its fourth quarter and full year 2023 results. A link to the live audio webcast will be available on Altisourc ...