Tiptree reports Q3 2023 results and intent to take Fortegra public

TIPTREE INC.

Q3 2023 total revenues $416.5M, up 14.6% YoY; GAAP net income $2.2M, down from $14.2M.
Adjusted net income $24.0M, up 23.9% YoY; adjusted ROE 17.6% vs 14.8% in prior year.
Board declared $0.05 per share dividend payable Nov 27, record date Nov 20, 2023.
Announced intent to take insurance subsidiary Fortegra public via primary IPO; proceeds to support growth.
Tiptree expects to maintain majority ownership of Fortegra post-IPO.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

TIPTREE INC. reported third quarter 2023 results: revenue $416,514, net income $2,153, EPS $0.04.

Period: third quarter 2023
Revenue: $416,514
Net income: $2,153
EPS: $0.04
Result: reported results

Exact text from the filing

2023 and 2022 are as follows: Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands, except per share information) 2023 2022 2023 2022 Total revenues $ 416,514 $ 363,478 $ 1,202,657 $ 1,028,224 Net income (loss) attributable to common stockholders $ 2,153 $ 14,223 $ 7,080 $ (9,145) Diluted earnings per share $ 0.04 $ 0.38 $ 0.18 $ (0.26)

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TIPTREE INC. filing history →

Source: SEC EDGAR

accession 0001393726-23-000086

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