earnings
confidence high
sentiment negative
materiality 0.75
Old Republic Q3 net loss $91.7M on investment losses; operating EPS down 13.9%
OLD REPUBLIC INTERNATIONAL CORP
2022-Q3 EPS reported
$0.57
revenue$5,738,100,000
- Net loss $91.7M ($0.31 diluted loss); adjusted operating net income $206.1M ($0.68 diluted), down 14.3% YoY.
- Consolidated net premiums & fees earned $1.94B (-5.5% YoY); combined ratio 91.4% (vs 89.8% prior year).
- General Insurance pretax operating income rose 15% to $167.6M, driven by commercial auto & workers comp.
- Title Insurance pretax operating income fell 46% to $73.3M, as mortgage rates drove 15.2% revenue decline.
- Returned $479.1M to shareholders: $374.3M dividends (incl. $1.00 special) and $104.8M share buybacks.