UFG reports preliminary Q2 net loss of $2.23/share; reserves strengthened by $53M

UNITED FIRE GROUP INC

2023-Q2 EPS reported -$2.21 revenue$534,193,000

Net loss of $2.23 per diluted share; adjusted operating loss of $2.27 per diluted share.
Pre-tax reserve strengthening of $53M for prior accident years (20.8 points of earned premium).
Estimated pre-tax catastrophe losses of $33M (13.0 points of earned premium); 18 separate weather events.
GAAP combined ratio estimated at 133% for Q2 2023.
Property average premium increased 19% (rate +12%, exposure +7%) in Q2.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNITED FIRE GROUP INC reported second quarter of 2023 results: net income $(2.23) per diluted share, EPS $(2.27) per diluted share (adjusted operating loss).

Period: second quarter of 2023
Net income: $(2.23) per diluted share
EPS: $(2.27) per diluted share (adjusted operating loss)
Result: preliminary results

Exact text from the filing

announced today preliminary earnings estimates for the second quarter 2023 results, including net loss of $2.23 per diluted share, and an adjusted operating loss of $2.27 per diluted share

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Source: SEC EDGAR

accession 0000101199-23-000054

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