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Greenlight Capital Re (GLRE)
NASDAQ:GLRE
Earnings Data
Report Date
May 13, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.5Last Year’s EPS
0.78Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Mar 10, 2025
|% Change Since: -9.12%
|Next Earnings Date:May 13, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with both positive achievements and significant challenges. While there was growth in the Innovations segment and an increase in book value, the quarter was affected by substantial underwriting and investment losses, as well as exposure to catastrophic events. The overall sentiment is neutral, acknowledging both progress and the need for caution in certain areas.Company Guidance
During the call, Greenlight Capital Re, Ltd. provided guidance on several key metrics for the fourth quarter and full year 2024. The company reported a net underwriting loss of $18 million, resulting in a combined ratio of 112.1% for the quarter, and a net loss of $27.4 million. Catastrophe activity, including $17.6 million from events like Hurricane Milton, and a $15 million increase in reserves related to the Russia-Ukraine conflict, significantly impacted results. Despite these challenges, the full year 2024 saw net income of $42.8 million, with a combined ratio of 101.4%, and a 7.2% increase in fully diluted book value per share to $17.95. The Innovations segment achieved a combined ratio of 95.8% on $94.7 million of gross written premium. Looking ahead to 2025, Greenlight Capital Re, Ltd. expects growth in its Lloyd's FAL book by 25% and anticipates a 10% increase in its property portfolio, despite a 5% to 7.5% rate decrease. The company is optimistic about future opportunities, despite anticipating potential losses of $15 million to $30 million from the Los Angeles wildfires.Increase in Fully Diluted Book Value
Net income for the year was $42.8 million, resulting in a 7.2% increase in fully diluted book value per share to $17.95.
Innovations Segment Performance
The Innovations segment generated a combined ratio of 95.8% on $94.7 million of gross written premium, showing positive performance and importance to growth strategy.
One-One Renewal Growth
The one-one 2025 renewal season saw growth with the FAL book expected to grow by approximately 25% and the property portfolio by 10% over 2024.
Positive Contributions from Investments
Long investments in Peloton Interactive and Kyndra Holdings were significant contributors, with Peloton advancing 86% and Kyndra Holdings 51% during the quarter.
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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
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GLRE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Mar 10, 2025 | $13.70 | $13.28 | -3.07% |
| Nov 04, 2024 | $13.56 | $14.59 | +7.60% |
| Aug 06, 2024 | $12.43 | $12.13 | -2.41% |
| May 08, 2024 | $12.74 | $13.01 | +2.12% |
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.
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FAQ
When does Greenlight Capital Re (GLRE) report earnings?
Greenlight Capital Re (GLRE) is schdueled to report earning on May 13, 2025, TBA Not Confirmed.
What is Greenlight Capital Re (GLRE) earnings time?
Greenlight Capital Re (GLRE) earnings time is at May 13, 2025, TBA Not 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 2025 (Q1) is 0.5.
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