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Bowhead Specialty Holdings Inc. (BOW)
NYSE:BOW
Earnings Data
Report Date
May 12, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.42Last Year’s EPS
0.34Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted strong, disciplined premium growth (24% FY) led by Casualty, improved expense efficiency (sub-30% expense ratio), meaningful earnings growth (+30.2% adjusted net income), digital underwriting momentum (Baleen and Express), and a solid investment/investment-income backdrop. Key risks include a higher loss ratio (66.7% in 2025 and guided mid- to high-60s for 2026), selective reserve increases and limited internal loss history, potential lumpiness from nonrecurring construction business, and market capacity/competitive dynamics that could moderate rate. On balance, positives around growth, profitability, scaling and capital appear to outweigh the headwinds from loss trends and reserving conservatism.Company Guidance
Strong Premium Growth
Gross written premiums (GWP) increased 21% in Q4 to $224.1M and 24% for FY2025 to $862.8M, with disciplined growth across divisions and management exceeding its 20% full-year target (delivered 24%).
Casualty Driving Growth
Casualty GWP rose ~26% in Q4 to $133M and 28% for the full year to $551M, driven primarily by excess casualty and construction project risks (construction projects added just under 30% to Q4 casualty premiums).
Material Earnings and ROE Improvement
Adjusted net income increased 30.2% to $55.6M for FY2025 ($1.65 diluted EPS); Q4 adjusted net income was $15.5M ($0.47). Adjusted return on average equity was 13.6% for the year and 14.1% in Q4.
Expense Efficiency and Operational Leverage
Full-year expense ratio improved to 29.8% (down 1.6 points from 31.4% in 2024) driven by a 2.3 point decrease in operating expense ratio; headcount grew ~18.9% (249 to 296) while GWP grew 24%, demonstrating scaling benefits even before full digital model scale.
Digital Underwriting Momentum (Baleen & Express)
Baleen GWP grew 47% sequentially to over $9.1M in Q4 and generated $21.4M for the year; management highlighted Express automation expansion (cyber and E&O) as a driver of future efficiency and premium capture.
Profitability Metrics and Combined Ratio
Full-year combined ratio was 96.5%, with management guiding 2026 combined ratio in the mid- to high-90s and return on equity in the mid-teens, indicating continued targetable profitability.
Investment Income and Strong Capital Position
Pretax net investment income rose ~44% YoY to $57.8M (Q4 +36% to $16.6M); portfolio book yield 4.6%, new money ~4.5%, average credit quality AA, duration extended to 3 years. Issued $150M of 7.75% senior unsecured notes in Nov to support capital.
Reserving Discipline and No Aggregate Prior-Year Net Development
Annual reserve review resulted in reallocations across divisions but produced no aggregate net prior-accident-year development for 2025, reflecting a conservative reserving approach and alignment to actuarial patterns.
BOW Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BOW Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 24, 2026 | $24.79 | $24.36 | -1.73% |
Nov 04, 2025 | $24.35 | $25.45 | +4.52% |
Aug 05, 2025 | $32.42 | $31.15 | -3.92% |
May 06, 2025 | $41.30 | $40.98 | -0.77% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Bowhead Specialty Holdings Inc. (BOW) report earnings?
Bowhead Specialty Holdings Inc. (BOW) is schdueled to report earning on May 12, 2026, Before Open (Confirmed).
What is Bowhead Specialty Holdings Inc. (BOW) earnings time?
Bowhead Specialty Holdings Inc. (BOW) earnings time is at May 12, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BOW EPS forecast?
BOW EPS forecast for the fiscal quarter 2026 (Q1) is 0.42.