BRP GROUP Reports Third Quarter Results for 2023 Fiscal Year
November 20, 2023
🌥️Earnings Overview
BRP GROUP ($NASDAQ:BRP) reported a total revenue of USD 306.3 million in their earnings results for the third quarter of their 2023 fiscal year on September 30 2023, a 18.1% increase from the same period in the previous year. Net income was also higher at USD -17.6 million, compared to the -24.8 million reported for Q3 of the prior year.
Market Price
The company’s stock opened at $22.0 and closed at the same price, up by 0.2% from its previous closing price of 22.0. In addition to strong financial results, BRP GROUP also announced a strategic investment in two new projects that will help drive future growth. The company will invest in a new software platform for its customers, as well as an expansion into the medical technology market. These investments are expected to increase the company’s competitive edge in the marketplace and help to further grow its customer base.
The company is confident that its strategic investments and favorable financial results will help to drive its future success. Going forward, investors should watch BRP GROUP closely to see how it continues to maximize shareholder value and profitability. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Brp Group. More…
| Total Revenues | Net Income | Net Margin |
| 1.18k | -104.15 | -2.3% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Brp Group. More…
| Operations | Investing | Financing |
| 36.99 | -23.84 | -69.37 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Brp Group. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.42k | 2.35k | 9.2 |
Key Ratios Snapshot
Some of the financial key ratios for Brp Group are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 78.4% | 739.5% | -6.6% |
| FCF Margin | ROE | ROA |
| 1.4% | -8.2% | -1.4% |
Analysis
At GoodWhale we recently analyzed BRP GROUP and found that while their star chart shows they are strong in growth and medium in profitability, they are weak in asset and dividend. Overall, BRP GROUP has an intermediate health score of 6 out of 10 with regard to its cashflows and debt, indicating that they are likely to safely ride out any crisis without the risk of bankruptcy. Based on our analysis, we can classify BRP GROUP as a ‘cheetah’, a type of company we have concluded that achieved high revenue or earnings growth but is considered less stable due to lower profitability. Investors who may be interested in such a company may include those who are looking for high returns with some risk, such as venture capitalists or angel investors. They may also be attractive to those who are interested in high-growth potential companies, such as growth investors. More…
Peers
The Company, through its subsidiaries, is engaged in the business of insurance brokerage and consulting. It offers a range of insurance products and services, including property and casualty, life and health, and employee benefits, to its clients in the United States, Bermuda, and the United Kingdom. The Company’s competitors include Tian Ruixiang Holdings Ltd, China United Insurance Service Inc, and Transilvania Broker De Asigurare.
– Tian Ruixiang Holdings Ltd ($NASDAQ:TIRX)
Tian Ruixiang Holdings Ltd is a Chinese holding company. It has a market cap of 8.29M as of 2022 and a return on equity of -8.76%. The company operates in the financial services industry in China. It offers a range of services, including banking, insurance, asset management, and other financial services. The company was founded in 2004 and is headquartered in Beijing, China.
– China United Insurance Service Inc ($OTCPK:CUII)
The company’s market cap is $54.82 million and its ROE is 29.69%. The company provides insurance services in China.
Summary
BRP GROUP has recently reported their earnings results for the third quarter of 2023. Total revenue saw a significant increase of 18.1% year-over-year to USD 306.3 million. Net income for Q3 2023 also improved from the -24.8 million reported for Q3 of the prior year to -17.6 million.
Investors should look at these results and consider the potential growth opportunities of BRP GROUP, especially with their improved financial performance. They should also evaluate the company’s management strategy, competitive position and industry trends before deciding whether to invest in BRP GROUP’s stock.
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