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Skyward Specialty Insurance Group, Inc. (SKWD)
NASDAQ:SKWD
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Earnings Data
Report Date
Mar 04, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.73Last Year’s EPS
0.61Same Quarter Last Year
Moderate Buy
Based on 8 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 09, 2023
|% Change Since: 0.34%
|Next Earnings Date:Feb 28, 2023
Earnings Call Sentiment|Positive
The earnings call highlighted strong financial performance and growth in premiums, despite challenges in the competitive market and property market softening. The company has a strong investment strategy and is recognized as a top employer. The approval of a share repurchase program indicates a commitment to shareholder value.Company Guidance
In the third quarter of 2024, Skyward Specialty reported an adjusted operating income of $0.71 per diluted share, a notable increase from $0.65 per diluted share in the same period last year. The company's combined ratio stood at 92.2%, with catastrophe losses contributing less than 3 points. Year-to-date, the adjusted operating income rose to $2.26 per share, marking over a 50% increase from 2023, while the fully diluted book value per share climbed by 19% to $18.99. Gross written premiums grew by 12.4% for the quarter, and net written premiums were $268 million, reflecting a 16.5% growth excluding the effect of a canceled quota share reinsurance contract. The company's investment strategy yielded a net investment income of $19.5 million, a $6.4 million increase from the prior year, with an embedded yield of 5% on the fixed income portfolio. Skyward Specialty maintained its full-year catastrophe loss guidance at 2 to 2.5 points, and the board approved a $50 million share repurchase program, signaling confidence in sustained growth and shareholder value maximization.Strong Financial Performance
Adjusted operating income of $0.71 per diluted share for Q3 2024, with a 19% increase in book value per share and an annualized return on equity of 19.1%.
Growth in Gross Written Premiums
Gross written premiums grew by 12.4% in Q3 2024, with year-to-date growth of 19%.
Low Catastrophe Losses
Catastrophe losses accounted for only 2.8 points on the combined ratio, with a year-to-date cat loss ratio of 1.5 points.
Investment Income Increase
Net investment income rose to $19.5 million in Q3 2024, an increase of $6.4 million compared to the same period in 2023.
Share Repurchase Program
Board approved a $50 million share repurchase program, indicating strong cash position and commitment to shareholder value.
Recognition as a Top Employer
Skyward was recognized as one of the best places to work in insurance for the second consecutive year.
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Skyward Specialty Insurance Group, Inc. (SKWD) Earnings, Revenues Date & History
SKWD 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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SKWD Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 29, 2024 | $44.75 | $44.46 | -0.65% |
| Aug 05, 2024 | $38.59 | $37.88 | -1.84% |
| May 01, 2024 | $35.50 | $35.77 | +0.76% |
| Feb 20, 2024 | $34.67 | $34.15 | -1.50% |
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 Skyward Specialty Insurance Group, Inc. (SKWD) report earnings?
Skyward Specialty Insurance Group, Inc. (SKWD) is schdueled to report earning on Mar 04, 2025, TBA Not Confirmed.
What is Skyward Specialty Insurance Group, Inc. (SKWD) earnings time?
Skyward Specialty Insurance Group, Inc. (SKWD) earnings time is at Mar 04, 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 SKWD EPS forecast?
SKWD EPS forecast for the fiscal quarter 2024 (Q4) is 0.73.
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