Finance Of America Companies Inc. (NYSE:FOA) Q4 2022 Earnings Call Transcript

Johan Gericke: Yes, Steven, it’s Johan. Hi there. You asked earlier also just on the synergy. So, as I — as we mentioned, we expect the AAG deal to close at the end of the quarter. We’ve been planning a transition, but obviously the transition will be in full flight once we’ve closed. And so I would expect over the course of Q2, both the revenue and the expense synergies to start materializing over the course of Q2. So that being said, Q1 is probably going to be the trough for this year for sure, as we pick up the volume and start realizing the synergies in Q2 from the AAG transaction, that’ll obviously start driving earnings. And so you should think of the earnings kind of profile to be trough and Q1 for the year, Q2 better, and then in Q3 and Q4 we’ll obviously have from the reverse side, the business fully integrated and working and achieving synergies.

Stephen Laws: Great. And one final one, if I might. Graham, you’ve moved a couple of businesses that you don’t view as core. When you look at what you have left, is there anything left that you think you need to wind down or maybe look to monetize other business lines or kind of, do you feel like you’ve largely completed that process at this point? Thanks.

Graham Fleming: Nothing imminent, Steven. We think we’ve completed the majority of the divestitures, but there’s nothing else imminent this point.

Stephen Laws: Great. Thank you.

Operator: There are no more questions, so I’ll pass the call back over to the management team for closing remarks.

Michael Fant: Thank you, everybody for joining our call, and we look forward to updating you on our next earnings call in May.