<p>在週二，Finance of America（紐約證券交易所代碼：FOA）在其財報電話會議中討論了第一季度的財務結果。完整的文字記錄如下。</p>
<p>此內容由 Benzinga API 提供。有關全面的財務數據和文字記錄，請訪問 https://www.benzinga.com/apis/。</p>
<p>查看網絡直播：https://events.q4inc.com/analyst/720965831?pwd=0cdTeu4u</p>
<h2>摘要</h2>
<p>Finance of America 報告淨收入為 3500 萬美元，調整後淨收入為 2600 萬美元，調整後每股收益同比增長 112%，達到 1.10 美元。</p>
<p>公司的專有平台 Helix，藉助 AI 組件 Joy，推動了客户獲取和成本效率的提升，使公司在一個顯著未被充分開發的市場中為未來增長做好了準備。</p>
<p>Finance of America 計劃償還 1.5 億美元的高級擔保公司債券，以增強其資產負債表，並將全年的調整後每股收益指引上調至 4.50 美元至 5 美元之間，反映出第一季度的強勁表現。</p>
<h2>完整文字記錄</h2>
<p><strong>Matt</strong></p>
<p>謝謝你，Kristin，大家下午好。Graham 已經給出了主要結果，所以我將為你們提供一些關於本季度的補充信息，你可以在今天的財報發佈中找到，並在第 11 頁按部門進行總結。如前所述，我們實現了 3500 萬美元的淨收入和 2600 萬美元的調整後淨收入。調整後每股收益為 1.10 美元，同比增長 112%。從退休解決方案開始，這代表了我們的發放平台，調整後淨收入為 1400 萬美元，較第四季度有所下降，主要是由於發放的季節性因素，但同比大幅上升，實際上增長了 56%。推動這些結果的是 Kristin 提到的更高轉化率，以及收入利潤率的改善，反映出我們在專有生產持續增長時所看到的強勁執行力。投資組合管理在本季度表現強勁，產生了 2800 萬美元的調整後淨收入。業績主要受到 17 億美元的證券化活動的推動，包括專有的反向抵押貸款和房屋淨值轉換抵押貸款（HECM）回購。結果受益於有利的市場條件，包括緊縮的利差和相對較低的利率，以及季度內執行的時機。儘管時機可能會因季度而異，但我們的結果反映了我們平台的實力以及我們持續識別和執行有吸引力的資本市場機會的能力。企業部門的調整後收益，反映了我們非融資債務的間接費用和利息支出，與前幾個季度基本一致，反映了非融資利息支出的減少，抵消了對技術的投資。總體而言，這些結果推動了有形股本的順序增加，達到 2.68 億美元，或每股約 15 美元。關於我們的估值，我們相信，隨着發放和收益能力的持續增長，隨着時間的推移，這將使我們在收益和有形股本基礎上獲得更高的倍數。轉向第 12 頁的關鍵資產負債表指標，你可以看到我們的現金餘額從 2025 年底的 9000 萬美元增加到第一季度末的 1.08 億美元，同比增長 108%。在本季度，我們從發放和資本市場活動中產生了 5800 萬美元的現金流，並利用 4000 萬美元完成了對黑石公司股權的回購。我們認為，計劃在今年晚些時候償還 1.5 億美元的高級擔保公司債務是我們流動性和資本的最明智使用。在短期內，這一去槓桿化計劃將創造一個非常強勁的資產負債表，我們認為這是我們所建立的有價值的運營特許經營的適當基礎。話雖如此，考慮到我們本季度發佈的強勁結果，我們也看到了我們自己股票的相當價值。我們預計在推進去槓桿化計劃時將重新審視資本配置優先事項。如果你翻到第 13 頁，我將通過更新 2026 年的指引來結束我的準備發言。我們維持我們的融資量展望在 28 億到 31 億美元之間。我們還將全年的調整後每股收益指引上調至 4.50 美元至 5 美元之間，反映出第一季度的強勁表現和我們業務中看到的勢頭。就此，我想請操作員開始提問。</p>
<p><strong>Timothy Dagustiono（股票分析師）</strong></p>
<p>是的，嗨。謝謝你。恭喜你們取得了這個季度的好成績。那麼，在發放量方面，聽起來三月是一個相當強勁的月份，我想知道你能否補充一下三月為何比二月、三月更強。如果三月的發放量在四月和五月初持續存在。謝謝。</p>
<p><strong>Matt</strong></p>
<p>嗨，Tim。是的，我認為有幾個因素。首先，我提到過正常的季節性，對吧？所以我們在 11 月和 12 月的潛在客户生成能力總是會受到一些限制，因為 11 月底和 12 月的假期。因此，這自然會導致一月和二月的融資量較低。但當你開始進入新的一年並開始重新啓動這個引擎時，你會看到潛在客户流入，這實際上在二月和三月開始顯現。這只是正常的季節性因素。也許讓 Kristen 進一步闡述我們在營銷支出方面看到的改善表現。</p>
<p><strong>Kristin</strong></p>
<p>是的，我提到了 Helix，實際上我們在三月份看到的工作開始產生我們預期的結果，逐漸匯聚在一起。因此，我們在三月份的發放量開始進入一個不同的速度。我們預計這種趨勢將持續到今年。</p>
<p><strong>Timothy Dagustiono（股票分析師）</strong></p>
<p>好的，非常感謝。這非常有幫助。關於按產品劃分的資金量，特別是考慮到第一季度，顯然它更傾向於專有產品。但我想問一下，關於第一季度 HECM 產品和專有產品的發放情況，需求是否有變化，或者您能否提供一些關於房主如何與每種產品互動的情況？專有產品是否獲得了更多的關注？謝謝。</p>
<p><strong>Kristin</strong></p>
<p>房主通常會選擇最適合他們需求的產品，這在大多數情況下與他們的債務和房屋價值相對的收益金額有關。因此，我們看到專有產品在更大房屋尺寸上是自然的選擇。但對我們來説，第一季度的不同之處在於，我們真的開始看到我們的第二抵押貸款產品的發放量增加。這些產品適用於那些對他們的第一抵押貸款感到滿意的人，通常是低利率，他們能夠承擔這個付款，但他們有大量的房屋淨值希望提取，並且不想再增加另一個付款來影響他們的現金流。因此，在傳統方面，HECM 與 Home Safe 之間的選擇通常取決於哪個產品能為客户提供更多的資金，這取決於房產價值，而 HomeSafe 第二抵押貸款則基於我剛才描述的情況。借款人正在尋找不同的替代方案。</p>
<p><strong>Timothy Dagustiono（股票分析師）</strong></p>
<p>好的，非常感謝。我會再次排隊。</p>
<p><strong>操作員</strong></p>
<p>提醒一下，如果您想提問，請在手持設備上按星號一。我們有來自 B. Riley Securities 的 Timothy Dagustiono 的後續問題。請繼續。</p>
<p><strong>Timothy Dagustiono（股票分析師）</strong></p>
<p>太好了。第三個問題，我想看看您是否有關於 PHH 收購的更多更新或其他信息。我知道在幻燈片中提到它正在進展，但我不知道您是否能提供更多的細節。謝謝。</p>
<p><strong>Matt</strong></p>
<p>是的，所有額外的信息，Tim，將在我們今天市場收盤後提交的 8K 文件中。正如我在發言中所説，我們將交易分為發放、產品營銷和一些服務，我們預計將在五月完成。我們在 Ginnie Mae 面前有一小部分 HECM MSR，我們將與 Ginnie Mae 合作，獲得適當的批准，然後在時機合適時完成交易。</p>
<p><strong>Timothy Dagustiono（股票分析師）</strong></p>
<p>好的，非常感謝您回答這些問題。恭喜你們這個季度的表現。</p>
<p><strong>操作員</strong></p>
<p>我們已經結束了問答環節。現在我將把電話交回給 Graham Fleming 進行結束髮言。</p>
<p><strong>Graham Fleming</strong></p>
<p>是的，謝謝。第一季度的要點很簡單。我們看到業務的基本驅動因素明顯改善，這種改善開始轉化為更強的生產和財務結果。我們期待在八月份向您更新我們的第二季度結果。感謝大家今天參加電話會議。</p>
<p><strong>免責聲明：</strong> 本轉錄僅供信息參考。雖然我們努力確保準確性，但此自動轉錄可能存在錯誤或遺漏。有關公司的正式聲明和財務信息，請參閲公司的 SEC 文件和官方新聞稿。企業參與者和分析師的聲明反映了他們在本次電話會議日期的觀點，可能會隨時更改，恕不另行通知。</p>

<p>Finance of America（紐約證券交易所代碼：FOA）公佈了 2026 年第一季度的財報，淨收入為 3500 萬美元，調整後每股收益為 1.10 美元，同比增長 112%。該公司計劃償還 1.5 億美元的公司票據，以增強其資產負債表，並已將全年調整後每股收益的指引修訂為 4.50 至 5.00 美元。由人工智能增強的專有平台 Helix 正在推動客户獲取和成本效率。現金餘額增加至 1.08 億美元，未來將重點關注去槓桿化和資本配置優先事項</p>

<p>On Tuesday, Finance of America (NYSE: FOA) discussed first-quarter financial results during its earnings call. The full transcript is provided below.</p>
<div class="lb-trans"><p>在週二，Finance of America（紐約證券交易所代碼：FOA）在其財報電話會議中討論了第一季度的財務結果。完整的文字記錄如下。</p>
</div><p>This content is powered by Benzinga APIs. For comprehensive financial data and transcripts, visit https://www.benzinga.com/apis/.</p>
<div class="lb-trans"><p>此內容由 Benzinga API 提供。有關全面的財務數據和文字記錄，請訪問 https://www.benzinga.com/apis/。</p>
</div><p>View the webcast at https://events.q4inc.com/analyst/720965831?pwd=0cdTeu4u</p>
<div class="lb-trans"><p>查看網絡直播：https://events.q4inc.com/analyst/720965831?pwd=0cdTeu4u</p>
</div><h2>Summary</h2>
<div class="lb-trans"><h2>摘要</h2>
</div><p>Finance of America reported net income of $35 million and adjusted net income of $26 million, with adjusted earnings per share up 112% year over year to $1.10.</p>
<div class="lb-trans"><p>Finance of America 報告淨收入為 3500 萬美元，調整後淨收入為 2600 萬美元，調整後每股收益同比增長 112%，達到 1.10 美元。</p>
</div><p>The company's proprietary platform, Helix, enhanced by AI component Joy, is driving customer acquisition and cost efficiency improvements, positioning the company for future growth in a significantly underpenetrated market.</p>
<div class="lb-trans"><p>公司的專有平台 Helix，藉助 AI 組件 Joy，推動了客户獲取和成本效率的提升，使公司在一個顯著未被充分開發的市場中為未來增長做好了準備。</p>
</div><p>Finance of America plans to retire $150 million of senior secured corporate notes to strengthen its balance sheet and is revising its full-year adjusted earnings per share guidance upwards to between $4.50 and $5, reflecting strong first-quarter performance.</p>
<div class="lb-trans"><p>Finance of America 計劃償還 1.5 億美元的高級擔保公司債券，以增強其資產負債表，並將全年的調整後每股收益指引上調至 4.50 美元至 5 美元之間，反映出第一季度的強勁表現。</p>
</div><h2>Full Transcript</h2>
<div class="lb-trans"><h2>完整文字記錄</h2>
</div><p><strong>Matt</strong></p>
<div class="lb-trans"><p><strong>Matt</strong></p>
</div><p>Matt thank you Kristin and good afternoon all. Graham already gave you the headline results, so I'll give you some added color to the quarter which you can find in today's earnings release and summarize by segment on slide 11. As mentioned, we generated 35 million of net income and 26 million of adjusted net income. Adjusted earnings per share of $1.10 was up 112% year-over-year. Starting with Retirement Solutions, which represents our originations platform, adjusted net income was 14 million, down from the fourth quarter due to the typical seasonality in originations, but up substantially year-over-year, in fact up by 56%. Driving these results was the higher conversion rates Kristin mentioned, as well as improved revenue margins which increased year-over-year, reflecting the strong execution we are seeing as proprietary production continues to grow. Portfolio management delivered strong results for the quarter, generating 28 million in adjusted net income. Performance was driven primarily by 1.7 billion of securitization activity across both proprietary Reverse and Home Equity Conversion Mortgage (HECM) buyouts. Results benefited from favorable market conditions including tight spreads and relatively lower interest rates, as well as the timing of execution within the quarter. While timing can vary quarter to quarter, our results reflect the strength of our platform and our ability to consistently identify and execute on attractive capital markets opportunities. Corporate segment adjusted Earnings, which reflects overhead and interest expense on our non Funding debt was materially in line with prior quarters, reflecting reduced non funding interest expense offset by investments in technology. Overall, these results drove a sequential increase in tangible equity to 268 million, or approximately $15 per share. With respect to our valuation, we believe the growing origination and earnings power that we continue to demonstrate will over time warrant a higher multiple on both an earnings and tangible equity basis. Turning to key balance sheet Metrics on slide 12, you can see that our cash balances increased from 90 million at the end of 2025 to to 108 million at the end of the first quarter and are up by 108% year-over-year. During the quarter we generated 58 million in cash flow from our originations and capital markets activities and utilized $40 million to complete the repurchase of Blackstone's equity position at this time. We view our plan to retire the 150 million balance of our senior secured corporate notes later this year as the most prudent use of our liquidity and capital. In the near term, this deleveraging plan will create a very strong balance sheet which we view as an appropriate foundation for the valuable operating franchise we have built. Having said that, given the strong results we posted this quarter, we also see considerable value in our own shares. We expect to revisit capital allocation priorities as we make progress against the deleveraging plan. If you turn to slide 13, I'll conclude my prepared remarks by giving you an update on our guidance for 2026. We are maintaining our funded volume outlook 2.8 to 3.1 billion. We're also increasing our guidance for full year adjusted earnings per share above our previously stated range to between $4.50 and $5 per share, reflecting the strong first quarter performance and the momentum we are seeing in our business. With that, I'd like to ask the operator to open your call for questions.</p>
<div class="lb-trans"><p>謝謝你，Kristin，大家下午好。Graham 已經給出了主要結果，所以我將為你們提供一些關於本季度的補充信息，你可以在今天的財報發佈中找到，並在第 11 頁按部門進行總結。如前所述，我們實現了 3500 萬美元的淨收入和 2600 萬美元的調整後淨收入。調整後每股收益為 1.10 美元，同比增長 112%。從退休解決方案開始，這代表了我們的發放平台，調整後淨收入為 1400 萬美元，較第四季度有所下降，主要是由於發放的季節性因素，但同比大幅上升，實際上增長了 56%。推動這些結果的是 Kristin 提到的更高轉化率，以及收入利潤率的改善，反映出我們在專有生產持續增長時所看到的強勁執行力。投資組合管理在本季度表現強勁，產生了 2800 萬美元的調整後淨收入。業績主要受到 17 億美元的證券化活動的推動，包括專有的反向抵押貸款和房屋淨值轉換抵押貸款（HECM）回購。結果受益於有利的市場條件，包括緊縮的利差和相對較低的利率，以及季度內執行的時機。儘管時機可能會因季度而異，但我們的結果反映了我們平台的實力以及我們持續識別和執行有吸引力的資本市場機會的能力。企業部門的調整後收益，反映了我們非融資債務的間接費用和利息支出，與前幾個季度基本一致，反映了非融資利息支出的減少，抵消了對技術的投資。總體而言，這些結果推動了有形股本的順序增加，達到 2.68 億美元，或每股約 15 美元。關於我們的估值，我們相信，隨着發放和收益能力的持續增長，隨着時間的推移，這將使我們在收益和有形股本基礎上獲得更高的倍數。轉向第 12 頁的關鍵資產負債表指標，你可以看到我們的現金餘額從 2025 年底的 9000 萬美元增加到第一季度末的 1.08 億美元，同比增長 108%。在本季度，我們從發放和資本市場活動中產生了 5800 萬美元的現金流，並利用 4000 萬美元完成了對黑石公司股權的回購。我們認為，計劃在今年晚些時候償還 1.5 億美元的高級擔保公司債務是我們流動性和資本的最明智使用。在短期內，這一去槓桿化計劃將創造一個非常強勁的資產負債表，我們認為這是我們所建立的有價值的運營特許經營的適當基礎。話雖如此，考慮到我們本季度發佈的強勁結果，我們也看到了我們自己股票的相當價值。我們預計在推進去槓桿化計劃時將重新審視資本配置優先事項。如果你翻到第 13 頁，我將通過更新 2026 年的指引來結束我的準備發言。我們維持我們的融資量展望在 28 億到 31 億美元之間。我們還將全年的調整後每股收益指引上調至 4.50 美元至 5 美元之間，反映出第一季度的強勁表現和我們業務中看到的勢頭。就此，我想請操作員開始提問。</p>
</div><p><strong>Timothy Dagustiono (Equity Analyst)</strong></p>
<div class="lb-trans"><p><strong>Timothy Dagustiono（股票分析師）</strong></p>
</div><p>Yeah, hi. Thank you. Congrats on the quarter, So, on origination volume, it sounds like March was a pretty strong month and I was wondering if you could add some color as to maybe why March was stronger than February, January. And if that is, that volume that was seen in March persisted through April and into the beginning of. Beginning of May. Thank you.</p>
<div class="lb-trans"><p>是的，嗨。謝謝你。恭喜你們取得了這個季度的好成績。那麼，在發放量方面，聽起來三月是一個相當強勁的月份，我想知道你能否補充一下三月為何比二月、三月更強。如果三月的發放量在四月和五月初持續存在。謝謝。</p>
</div><p><strong>Matt</strong></p>
<div class="lb-trans"><p><strong>Matt</strong></p>
</div><p>Hi Tim. Yeah, I think a couple of things. One I mentioned there's a normal seasonality, right, So our lead generation capabilities in November and December are always curtailed a little bit just from the holiday periods at the end of November and December, of course. So that will lead naturally to some lower fundings in January and February. But as you start to get into the new year and start to crank that engine back up, you start to see a lead flow come in, which really starts to kick in in February, March. That's just kind of the normal seasonal stuff. And maybe let Kristen expand on the improved performance we're seeing from that marketing spend as well.</p>
<div class="lb-trans"><p>嗨，Tim。是的，我認為有幾個因素。首先，我提到過正常的季節性，對吧？所以我們在 11 月和 12 月的潛在客户生成能力總是會受到一些限制，因為 11 月底和 12 月的假期。因此，這自然會導致一月和二月的融資量較低。但當你開始進入新的一年並開始重新啓動這個引擎時，你會看到潛在客户流入，這實際上在二月和三月開始顯現。這只是正常的季節性因素。也許讓 Kristen 進一步闡述我們在營銷支出方面看到的改善表現。</p>
</div><p><strong>Kristin</strong></p>
<div class="lb-trans"><p><strong>Kristin</strong></p>
</div><p>Yeah, I touched on Helix and really what we saw in March was the work that we've been doing actually producing the results that we expected it to starting to come together in March. So you know, we really started to hit a different speed as it relates to our origination volume in March as a result. And we expect that to continue for the year.</p>
<div class="lb-trans"><p>是的，我提到了 Helix，實際上我們在三月份看到的工作開始產生我們預期的結果，逐漸匯聚在一起。因此，我們在三月份的發放量開始進入一個不同的速度。我們預計這種趨勢將持續到今年。</p>
</div><p><strong>Timothy Dagustiono (Equity Analyst)</strong></p>
<div class="lb-trans"><p><strong>Timothy Dagustiono（股票分析師）</strong></p>
</div><p>Okay, great. That's, that's super helpful. And then on the funded volume by product, especially thinking about the first quarter, obviously it shifted more towards that proprietary product. But I guess regarding originations in the first quarter from the HECM product and the proprietary product, was there any changes in demand or any, any color you can provide on how homeowners are interacting with each product? Is the proprietary product gaining more traction just kind of color on how homeowners are interacting? Thank you.</p>
<div class="lb-trans"><p>好的，非常感謝。這非常有幫助。關於按產品劃分的資金量，特別是考慮到第一季度，顯然它更傾向於專有產品。但我想問一下，關於第一季度 HECM 產品和專有產品的發放情況，需求是否有變化，或者您能否提供一些關於房主如何與每種產品互動的情況？專有產品是否獲得了更多的關注？謝謝。</p>
</div><p><strong>Kristin</strong></p>
<div class="lb-trans"><p><strong>Kristin</strong></p>
</div><p>Homeowners typically choose the product that best suits their needs, which in most cases is a function of the amount of proceeds relative to the debt that they have and their home value. So where we see proprietary as natural fits are more of the jumbo home sizes, on our traditional suite. But the, the difference for us in Q1 is we're really starting to see our second lien product, you know, increase in originations. And those, those products are for people that really have a different use case in the sense that, they're happy with their first mortgage, typically a low interest rate, they can afford that payment, but they have a tremendous amount of home equity that they'd like to tap and can't afford or don't want another payment to impact their cash flow. So for HECM versus Home Safe on the traditional side, it's typically a function of which product provides the customer access to the most funds and dependent on Property value and then on the HomeSafe second lien. It's based on what I just described. Borrowers looking for a different alternative.</p>
<div class="lb-trans"><p>房主通常會選擇最適合他們需求的產品，這在大多數情況下與他們的債務和房屋價值相對的收益金額有關。因此，我們看到專有產品在更大房屋尺寸上是自然的選擇。但對我們來説，第一季度的不同之處在於，我們真的開始看到我們的第二抵押貸款產品的發放量增加。這些產品適用於那些對他們的第一抵押貸款感到滿意的人，通常是低利率，他們能夠承擔這個付款，但他們有大量的房屋淨值希望提取，並且不想再增加另一個付款來影響他們的現金流。因此，在傳統方面，HECM 與 Home Safe 之間的選擇通常取決於哪個產品能為客户提供更多的資金，這取決於房產價值，而 HomeSafe 第二抵押貸款則基於我剛才描述的情況。借款人正在尋找不同的替代方案。</p>
</div><p><strong>Timothy Dagustiono (Equity Analyst)</strong></p>
<div class="lb-trans"><p><strong>Timothy Dagustiono（股票分析師）</strong></p>
</div><p>Okay, great. Thank you. I'll jump back in the queue.</p>
<div class="lb-trans"><p>好的，非常感謝。我會再次排隊。</p>
</div><p><strong>OPERATOR</strong></p>
<div class="lb-trans"><p><strong>操作員</strong></p>
</div><p>A reminder, if you would like to ask a question, please press star one on your handheld device. And we have a follow up question from Timothy Dagustiono from B. Riley Securities. Please go ahead.</p>
<div class="lb-trans"><p>提醒一下，如果您想提問，請在手持設備上按星號一。我們有來自 B. Riley Securities 的 Timothy Dagustiono 的後續問題。請繼續。</p>
</div><p><strong>Timothy Dagustiono (Equity Analyst)</strong></p>
<div class="lb-trans"><p><strong>Timothy Dagustiono（股票分析師）</strong></p>
</div><p>Awesome. The third question here, I just wanted to see if you had any more updates or just kind of of anything else regarding the PHH acquisition. I know in the slide deck it was mentioned I was progressing, but I don't know if there's any additional color you can provide. Thank you.</p>
<div class="lb-trans"><p>太好了。第三個問題，我想看看您是否有關於 PHH 收購的更多更新或其他信息。我知道在幻燈片中提到它正在進展，但我不知道您是否能提供更多的細節。謝謝。</p>
</div><p><strong>Matt</strong></p>
<div class="lb-trans"><p><strong>Matt</strong></p>
</div><p>Yeah, all the additional information, Tim, will be in the 8K that we filed after the market today. So as I said in my remarks, we've bifurcated the transaction into the originations, the marketing of our product and some servicing which we expect to close here in May. We have a smaller pool of HECM MSR in front of Ginnie Mae, which we will work with Ginnie Mae and gain the appropriate approvals and then close on that when the timing is correct and we receive that approval.</p>
<div class="lb-trans"><p>是的，所有額外的信息，Tim，將在我們今天市場收盤後提交的 8K 文件中。正如我在發言中所説，我們將交易分為發放、產品營銷和一些服務，我們預計將在五月完成。我們在 Ginnie Mae 面前有一小部分 HECM MSR，我們將與 Ginnie Mae 合作，獲得適當的批准，然後在時機合適時完成交易。</p>
</div><p><strong>Timothy Dagustiono (Equity Analyst)</strong></p>
<div class="lb-trans"><p><strong>Timothy Dagustiono（股票分析師）</strong></p>
</div><p>Okay, great. Thank you so much for taking the questions. Congrats on the quarter.</p>
<div class="lb-trans"><p>好的，非常感謝您回答這些問題。恭喜你們這個季度的表現。</p>
</div><p><strong>OPERATOR</strong></p>
<div class="lb-trans"><p><strong>操作員</strong></p>
</div><p>We have reached the end of the Q and A session. I will now turn the call back to Graham Fleming for closing remarks.</p>
<div class="lb-trans"><p>我們已經結束了問答環節。現在我將把電話交回給 Graham Fleming 進行結束髮言。</p>
</div><p><strong>Graham Fleming</strong></p>
<div class="lb-trans"><p><strong>Graham Fleming</strong></p>
</div><p>Yeah, thank you. The takeaway from the first quarter is straightforward. You know, we're seeing clear improvement in the underlying drivers of the business and that improvement is starting to translate into stronger production and financial results. And with that, we look forward to updating you in August with our Q2 results. So thank you everybody for joining the call today.</p>
<div class="lb-trans"><p>是的，謝謝。第一季度的要點很簡單。我們看到業務的基本驅動因素明顯改善，這種改善開始轉化為更強的生產和財務結果。我們期待在八月份向您更新我們的第二季度結果。感謝大家今天參加電話會議。</p>
</div><p><strong>Disclaimer:</strong> This transcript is provided for informational purposes only. While we strive for accuracy, there may be errors or omissions in this automated transcription. For official company statements and financial information, please refer to the company's SEC filings and official press releases. Corporate participants' and analysts' statements reflect their views as of the date of this call and are subject to change without notice.</p>
<div class="lb-trans"><p><strong>免責聲明：</strong> 本轉錄僅供信息參考。雖然我們努力確保準確性，但此自動轉錄可能存在錯誤或遺漏。有關公司的正式聲明和財務信息，請參閲公司的 SEC 文件和官方新聞稿。企業參與者和分析師的聲明反映了他們在本次電話會議日期的觀點，可能會隨時更改，恕不另行通知。</p>
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完整記錄：Finance of America 2026 年第一季度財報電話會議