Greenlight Capital Re (GLRE)
NASDAQ:GLRE
Earnings Data
Report Date
May 12, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.5Last Year’s EPS
0.86Same Quarter Last Year
Based on 0 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominately positive picture: record underwriting income, strong quarter and full-year net income, significant book-value growth, successful deleveraging, an AM Best upgrade, and meaningful premium and syndicate growth. Investment performance (Solasglas) contributed materially to results and produced solid positive returns, though it lagged the S&P 500 in 2025. Key challenges include a >100% combined ratio in the Innovations segment driven by a large surety loss and higher expense ratios from growth investments, prior-year reserve strengthening, rate softening in Specialty and Property at the 1/1 renewals, and some geopolitical exposure. Overall, the positive operational and capital-management achievements outweigh the noted headwinds.Company Guidance
Quarterly Net Income and Underwriting Profit
Q4 2025 net income of $49.3M (or $1.44 diluted EPS) driven by a net underwriting profit of $13.0M and a combined ratio of 92.1% (10 combined-ratio-point improvement vs. prior-year period after adjusting for Russia-Ukraine reserve strengthening).
Strong Investment Performance (Solasglas)
Solasglas delivered a Q4 return of 7.9% (contributing $36.2M of investment income in the quarter) and returned 7.5% for full-year 2025; YTD 2026 return through Feb was 9.8% (3.4% in Jan, 6.3% in Feb).
Record Full-Year Underwriting Income and Net Income
Full-year 2025 underwriting income was a record $35.7M with a full-year combined ratio of 94.6%; full-year net income was $74.8M (diluted EPS $2.17).
Book Value Growth
Fully diluted book value per share rose 13.8% in 2025 to $20.43; three-year growth of fully diluted book value per share was 42.6% (12.5% annualized).
Premium and Segment Growth
Open Market net written premiums grew 9% to $123.6M (net earned premiums up 11%); Innovation segment gross written premiums grew 80% in the quarter to $37.1M and net earned premiums increased 27% to $24.2M; full-year Innovation gross written premiums rose 28% to $121.6M, representing 16% of total premiums.
Open Market Underwriting Improvement
Open Market combined ratio improved ~20.4 points year-over-year to 90.7% in Q4, producing pretax income of $28.2M (underwriting income $13.2M, investment income $15.0M).
Capital, Debt and Share Repurchase Actions
Repaid $30M of debt in the quarter leaving $5M outstanding and reduced debt leverage ratio from 9.5% to 0.7%; repurchased 201,000 shares for $2.8M in Q4 and $9.8M total in 2025 (avg price $13.76), with $20.2M remaining authorization.
AM Best Upgrade and Deleveraging
AM Best upgraded rating from A- to A in November; company highlighted significant deleveraging, stronger capital position, and highest-ever premium levels in 2025.
Renewal Wins and Syndicate Progress
Funds at Lloyd’s (FAL) book grew ~21% at 1/1 renewals; Specialty book grew 6% and Innovations 1/1 premium grew ~83%; renewed Outwards Innovations whole account quota share with cession increasing from 28% to 33% and accepted third-party capital into Syndicate 3456 for the first time.
GLRE 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
GLRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 09, 2026 | $14.20 | $14.96 | +5.35% |
Nov 03, 2025 | $12.19 | $11.95 | -1.97% |
Aug 04, 2025 | $12.83 | $13.02 | +1.48% |
May 07, 2025 | $13.44 | $13.46 | +0.15% |
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 Greenlight Capital Re (GLRE) report earnings?
Greenlight Capital Re (GLRE) is schdueled to report earning on May 12, 2026, After Close (Confirmed).
What is Greenlight Capital Re (GLRE) earnings time?
Greenlight Capital Re (GLRE) earnings time is at May 12, 2026, After Close (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 GLRE EPS forecast?
GLRE EPS forecast for the fiscal quarter 2026 (Q1) is 1.5.