Welcome to our dedicated page for Kingsway Financial Services news (Ticker: KFS), a resource for investors and traders seeking the latest updates and insights on Kingsway Financial Services stock.
Kingsway Financial Services, Inc. (NYSE: KFS) is a holding company that operates in the insurance and business services sectors in the United States. Through its subsidiaries, Kingsway focuses on creating long-term value by acting as an advisor, investor, and financier in the extended warranty and business services markets.
Kingsway's core business operations are divided into two main segments:
- Extended Warranty: This segment offers after-market vehicle protection services primarily distributed by credit unions. The company's extended warranty operations generate revenue through service fees and commission income and include subsidiaries such as IWS, Penn Warranty, Preferred Warranties, and Trinity Warranty Solutions.
- Kingsway Search Xcelerator (KSX): This segment focuses on the acquisition and growth of small to medium-sized businesses. Recent acquisitions under KSX include Systems Products International (SPI), which provides software solutions for the shared-ownership property management industry, and Digital Diagnostics, Inc. (DDI), specializing in medical imaging technology. The KSX segment aims to acquire businesses with recurring revenue, strong margins, low capital demands, and growth potential.
Recent developments include Kingsway's inclusion in the Russell 3000® Index and the small-cap Russell 2000® Index, which brings increased exposure to a broader audience of potential investors. Additionally, Kingsway has launched Vertical Market Solutions, LLC (VMS) to focus on vertical market software companies, starting with the acquisition of SPI.
Financially, Kingsway continues to show growth with an 11% increase in revenue in 2023, primarily driven by its KSX segment. Despite challenges in the extended warranty segment due to rising claim costs, the company remains focused on disciplined cost management and strategic acquisitions to drive long-term growth.
For more detailed financial information, including annual reports and investor presentations, visit the company's website at www.kingsway-financial.com.
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Kingsway Financial Services Inc. announces an Investor Day following their Annual General Meeting of shareholders in New York City. The event will cover operations, growth strategy, and financial structure, with live webcast options available for attendees.
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Kingsway Financial Services Inc. announced its 2023 financial results, revealing an 11% increase in consolidated revenue to $103.2 million. The company's Extended Warranty segment saw a revenue decrease due to the sale of PWSC but KSX revenue surged by 82% driven by acquisitions. Net income rose to $24 million, and adjusted EBITDA stood at $9.1 million. Recent highlights include key appointments and a positive outlook for growth.
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Kingsway Financial Services Inc. (NYSE:KFS) will report financial results for the twelve months ended December 31, 2023, on March 5, 2024. A conference call will be held to discuss the results at 5 p.m. Eastern Time on the same day.
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Kingsway Financial Services Inc. (KFS) has released a new investor presentation on their website, offering an overview of the company's business, industry, financials, and relevant information.
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Kingsway Financial Services Inc. announces the formation of Vertical Market Solutions, LLC and the acquisition of Systems Products International, Inc. under the Kingsway Search Xcelerator Program. The acquisition is expected to be immediately accretive and provide uplift to recurring revenue. Kingsway also welcomes Miles Mamon as the newest OIR in the Kingsway Search Xclerator segment.
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Kingsway Financial Services Inc. is set to join the Russell 3000 Index and the Russell 2000 Index. This inclusion will bring increased exposure to potential new investors. Kingsway aims to deliver attractive returns for shareholders through organic growth and acquisitions.
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Kingsway Financial Services Inc. has published its Investor Day presentation on the company's website. The presentation covers the company's business, industry, financials, and other relevant information. The Investor Day event will take place on May 16, featuring discussions on operations, growth strategy, and financial structure. The event can be attended in person or virtually.
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FAQ
What is the current stock price of Kingsway Financial Services (KFS)?
The current stock price of Kingsway Financial Services (KFS) is $8.88 as of November 15, 2024.
What is the market cap of Kingsway Financial Services (KFS)?
The market cap of Kingsway Financial Services (KFS) is approximately 246.2M.
What does Kingsway Financial Services, Inc. do?
Kingsway Financial Services, Inc. is a holding company that operates in the extended warranty and business services industries. It focuses on creating long-term value through acquisitions and strategic investments.
What are the main business segments of Kingsway?
Kingsway operates through two main segments: Extended Warranty and Kingsway Search Xcelerator (KSX). The Extended Warranty segment provides vehicle protection services, while KSX focuses on acquiring and growing small to medium-sized businesses.
How does Kingsway generate revenue?
Kingsway generates revenue through service fees and commission income from its extended warranty operations. It also gains revenue from its KSX segment through the acquisition and growth of profitable, asset-light businesses.
What recent acquisitions has Kingsway made?
Recent acquisitions include Systems Products International (SPI), which provides software for shared-ownership property management, and Digital Diagnostics, Inc. (DDI), specializing in medical imaging technology.
Where is Kingsway Financial Services, Inc. listed?
Kingsway's common shares are listed on the New York Stock Exchange under the trading symbol 'KFS'.
What are the latest financial highlights of Kingsway?
For the full year 2023, Kingsway reported an 11% increase in revenue, driven by growth in its KSX segment. The company continues to manage costs and pursue strategic acquisitions to enhance long-term growth.
How can I get more information about Kingsway?
Additional information, including annual reports and investor presentations, is available on Kingsway's website at www.kingsway-financial.com.
What is Kingsway's strategy for growth?
Kingsway aims to grow through disciplined capital allocation, strategic acquisitions under its KSX program, and cost management within its existing businesses. The company targets two to three acquisitions per year to expand its portfolio.
Who is the CEO of Kingsway Financial Services, Inc.?
John T. Fitzgerald is the President and Chief Executive Officer of Kingsway Financial Services, Inc.
When is Kingsway's next investor day?
Kingsway's next investor day is scheduled for May 20, 2024, at the New York Stock Exchange. Details will be available on the company's website closer to the event date.
Kingsway Financial Services, Inc.
NYSE:KFS
KFS Rankings
KFS Stock Data
246.23M
27.57M
27.76%
44.87%
1.49%
Auto & Truck Dealerships
Fire, Marine & Casualty Insurance
United States of America
CHICAGO