Pelagos Insurance Capital (PLGO)
NYSE:PLGO
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Earnings Data
Report Date
Aug 19, 2026After Close (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.93Last Year’s EPS
0.12Same Quarter Last Year
Based on 5 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive picture: strong underwriting performance (combined ratio 86.6%), robust profitability (15.2% ROAE), meaningful book value growth (+7.2% in the quarter) and disciplined capital returns (large buybacks and dividend). Growth was driven by new underwriting partners and product diversification, and management actively improved outwards reinsurance to manage volatility. Headwinds include competitive rate pressure in certain lines (notably retrocession and parts of property), specific adverse prior-year reserve activity (Baltimore Bridge), reduced PYD compared with the prior year, and selective pullbacks in challenged niches (aviation, certain cyber structures). Overall, the positive results, capital returns, margin profiles and controlled risk management outweigh the noted challenges.Company Guidance
Strong Underwriting Results and Profitability
Combined ratio of 86.6% in Q1 2026 (improvement of 29 percentage points vs Q1 2025), annualized operating ROAE of 15.2%, and operating net income of $88 million ($0.94 per diluted share).
Material Book Value Growth and Shareholder Returns
Book value per diluted share reached $26.22, increasing 7.2% in the quarter (including dividends). Repurchased $219 million of shares in Q1 (11.5 million shares at an average $19), contributing $0.75 to diluted book value per share in the quarter; $600 million repurchased since IPO (30% of shares) at an average $17.66.
Premium Growth and Diversified Top Line
Gross premiums written grew 7% year-over-year to $1.8 billion; Insurance segment GWP grew 13% driven by new underwriting partners; Reinsurance GWP $404 million (growth of 7% excluding Q1 2025 California wildfire reinstatements). Company expects full-year top-line growth of mid-single digits.
Strong Segment Margin Profiles
Three‑year average loss ratios: Property direct running at sub-40% (over the last 3 years) and Reinsurance segment running sub-20% (3‑year average), demonstrating healthy margin profiles across core lines.
Effective Capital and Balance Sheet Management
Redeemed $125 million junior subordinated notes in April, resulting in pro forma debt-to-capital of 24.2% as of March 31; continued dividend ($0.15 payable in June); strong capital position enabling both portfolio growth and meaningful buybacks.
Investment Portfolio and Yield Profile
92% of investment portfolio in cash and fixed maturities with an average yield of 4.4%; fixed maturity securities average rating A+, average duration 2.7 years and new-money yield of ~4.5%; net investment income of $44 million in Q1.
Successful Expansion of Underwriting Partner Ecosystem
Growth and diversification driven by new underwriting partners (examples: Fidelis, Euclid, OAK Global, Bamboo). New partners contributed meaningfully to growth and enable differentiated market access, with some partners (e.g., OAK) showing strong initial combined ratios (sub-85 in year 1).
Proactive Outwards Reinsurance and Volatility Management
Took advantage of market conditions to improve outwards coverage (aggregate structures, reduced quota share, new whole account aggregate excess of loss), using increased coverage to reduce portfolio volatility and preserve margins despite downward pressure on some inwards rates.
PLGO 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
PLGO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 13, 2026 | $20.24 | $23.46 | +15.91% |
Feb 25, 2026 | $19.95 | $19.11 | -4.23% |
Nov 12, 2025 | $18.83 | $18.38 | -2.41% |
Aug 13, 2025 | $17.01 | $16.69 | -1.89% |
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 Pelagos Insurance Capital (PLGO) report earnings?
Pelagos Insurance Capital (PLGO) is schdueled to report earning on Aug 19, 2026, After Close (Confirmed).
What is Pelagos Insurance Capital (PLGO) earnings time?
Pelagos Insurance Capital (PLGO) earnings time is at Aug 19, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is PLGO EPS forecast?
PLGO EPS forecast for the fiscal quarter 2026 (Q2) is 0.93.