AMBC Overview

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Quarterly Performance: Ambac Financial Group reported a quarterly loss of $0.21 per share, better than the expected loss of $0.23, and a significant improvement from a loss of $0.46 per share a year ago. The company also surpassed revenue expectations with $66.61 million, exceeding estimates by 17.33%.

Stock Outlook: Ambac shares have declined by 33% this year, contrasting with the S&P 500's 14.4% gain. The stock currently holds a Zacks Rank #3 (Hold), indicating it is expected to perform in line with the market.

Earnings Estimates: The consensus EPS estimate for the upcoming quarter is -$0.10 on revenues of $69.91 million, while the estimate for the current fiscal year is -$0.67 on $244.39 million in revenues. The trend of earnings estimate revisions will be crucial for future stock performance.

Industry Context: The Insurance - Property and Casualty industry, to which Ambac belongs, is currently ranked in the top 13% of Zacks industries, suggesting a favorable outlook compared to lower-ranked sectors.

Rebranding Announcement: Ambac Financial Group has rebranded to Octave Specialty Group, Inc., effective November 20, 2025, as part of its transformation into a specialty insurance platform.

Focus on Growth: The rebrand follows the sale of its legacy financial guarantee business and emphasizes Octave's commitment to building and acquiring high-performing managing general agency (MGA) businesses in the U.S., U.K., and Bermuda.

New Brand Identity: The Octave brand reflects innovation and collaboration, symbolizing the integration of diverse specialty businesses to enhance shareholder value.

Operational Structure: Cirrata Group and Beat Capital Partners have been rebranded as Octave Partners and Octave Ventures, respectively, while existing MGAs and Everspan Group will retain their current branding.

New Appointment: Ambac Financial Group has appointed Karen Beyer as Managing Director, Head of Investor Relations, based in New York.

Background Experience: Beyer brings over 20 years of investment industry experience, previously serving as Senior Vice President at Chubb and holding roles at State Street Global Advisors, GE Asset Management, and New York Life Investment Management.

Leadership Statement: David Trick, Ambac's Executive Vice President, expressed enthusiasm for Beyer's appointment, highlighting her experience in investor relations and its importance for the company's growth.

Company Overview: Ambac Financial Group is an insurance holding company based in New York, involved in specialty insurance underwriting and distribution, with its stock traded on the NYSE under the symbol "AMBC".

Earnings Announcement: Ambac Financial Group (AMBC) will announce its Q3 earnings on November 10th, with an expected EPS of -$0.23 and revenue of $56.77M, reflecting significant year-over-year declines.

Performance History: Over the past two years, AMBC has beaten EPS estimates 50% of the time and revenue estimates 63% of the time, though recent revisions show no upward changes in EPS or revenue estimates.

Earnings Performance: RLI Corp. reported quarterly earnings of $0.83 per share, exceeding the Zacks Consensus Estimate of $0.62, and showing a year-over-year increase from $0.65. The company has surpassed consensus EPS estimates three times in the last four quarters.

Revenue and Market Outlook: The company generated revenues of $448.97 million, slightly above expectations, but has underperformed the market with a 27.7% decline in shares this year. The current Zacks Rank for RLI Corp. is #3 (Hold), indicating expected performance in line with the market.