Tiptree Q3 revenue $363.5M (+26.8% YoY); net income $14.2M vs $2.0M; declares $0.04 dividend

TIPTREE INC.

2022-Q3 EPS reported -$0.26 revenue$1,028,224,000

Revenue $363.5M (+26.8% YoY) driven by Fortegra specialty insurance and vessel revenues; ex-investment gains +17.7%.
Net income attributable to common $14.2M vs $2.0M in Q3'21; adjusted net income $19.4M (-6.4% YoY).
Completed sale of two dry-bulk vessels for $46.2M (gain $14.1M); signed to sell two product tankers for $49.0M (gain ~44% over book).
Declared $0.04/share dividend, record Nov 21, pay Nov 28; repurchased 158,162 shares in 9 months at avg $10.43.
Book value per share $10.68 vs $11.37 a year ago; adjusted ROAE 14.8% vs 20.5%.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TIPTREE INC. reported the quarter ended September 30, 2022 results: revenue $363.5 million, net income $14.2 million, EPS $0.38.

Period: the quarter ended September 30, 2022
Revenue: $363.5 million
Net income: $14.2 million
EPS: $0.38
Result: reported results

Exact text from the filing

or the “Company”), today announced its financial results for the three and nine months ended September 30, 2022. Third Quarter 2022 Summary • Revenues for the quarter of $363.5 million, an increase of 26.8% from Q3'21, driven by growth in Fortegra’s specialty insurance lines and increased vessel revenues. Excluding investment gains and losses, revenues were up

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Source: SEC EDGAR

accession 0001393726-22-000133

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