Barrick Gold (usa) Stock Earnings Reports

Abacus Global Management reported a strong start to 2026 driven by sizable fundraising, robust origination activity and improved cash generation. Management raised full-year adjusted net income guidance to $100M–$106M (adjusted EPS $1.00–$1.05) and provided Q2 adjusted net income guidance of $24M–$26M ($0.24–$0.26). Key operational highlights: $288M raised into longevity funds in Q1 (following $275M in Q4), nearly 9,000 qualified policies reviewed in Q1, $163.6M deployed in policy originations during the quarter, and portfolio metrics (turnover 1.9x, average realized gain 26%, seasoned asset life ~46 months / insured age 88) above targets. Financially, total revenue grew 34.6% to $59.4M, adjusted net income rose 16.6% to $20.1M, adjusted EBITDA grew 33.3% to $32.7M with a 55% adjusted EBITDA margin, and GAAP net income was $7.3M. Operating cash flow was $91.7M in Q1 2026 (vs. -$61.6M in Q1 2025), reflecting monetizations, fund wind-down (LMA Income II returned capital), and operating leverage. The LMA Income II fund reached term and returned capital on time, with ~1/3 of investors extending or reinvesting; that fund’s conclusion reduced reported balance-sheet debt by ~$76.7M (a deconsolidation effect). Management emphasized two growth initiatives: (1) a strategic/distribution partnership with Manning & Napier expected to produce early results in Q2, and (2) an active securitization program with a potential second transaction targeted for late Q2/early Q3 to recycle capital and broaden funding. Capital allocation priorities: the core Life Solutions balance sheet is self-funding (approx. $450M in liquid managed assets), the company views itself as under-levered (recourse debt/EBITDA ~2x vs. capacity to ~4x), intends to grow fee-bearing AUM (targeting $30B AUM by 2028 with ~50/50 organic/inorganic mix), and will remain disciplined on M&A (seeking accretive deals) while opportunistically using buybacks (about half of a $20M authorization used). Management reiterated that improved demand has compressed purchase discount rates, which they view as a positive (higher asset values, expanded long-term spreads). Overall, the quarter provided evidence of strong demand, high-quality origination, cash flow convertibility, improved reported leverage from fund deconsolidation, and clear strategic levers (distribution alliance, securitizations, M&A, AUM growth) to scale the business.