Slide Insurance Q3 revenue, net income rise; lifts FY outlook
Overview
US property insurer's Q3 gross premiums written rose 9.3% yr/yr, revenue up 35.9%
Net income for Q3 increased 24.5% yr/yr; diluted EPS up 37.3%
Company declared a $1.50 per share special dividend and closed $1.07 bln credit facility
Outlook
Slide raises full-year 2026 gross written premiums outlook to $1.90 bln-$1.95 bln
Company lifts full-year 2026 net income guidance to $500 mln-$520 mln
Slide expects full-year return on equity above 40%
Result Drivers
PREMIUM GROWTH - Co said gross premiums written rose 9.3% yr/yr, driven by growth in voluntary new business, renewals of previously acquired Citizens policies and new state launches
CATASTROPHE LOSSES - Higher catastrophe losses from convective storms in Florida increased the combined ratio, partly offset by improved operating leverage
EXPENSE INCREASES - Policy acquisition, underwriting and administrative expenses rose, reflecting higher staffing and technology costs to support growth initiatives
Company press release:
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Net Income | $138.2 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "hold."
Wall Street's median 12-month price target for Slide Insurance Holdings, Inc. is $28.00, about 3.7% below its October 26 closing price of $29.08
Reuters Recommended Reads
Oct 26 - Cincinnati Financial Q3 adj EPS beats estimates
Oct 27 - Arch Capital Q3 net income falls, catastrophe losses rise
Oct 26 - Hartford Insurance Q3 core EPS beats estimates; dividend raised
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)