Global Indemnity Reports Earnings for Q2 2023 on August 8
August 21, 2023
🌥️Earnings Overview
For the quarter ending June 30 2023, GLOBAL INDEMNITY ($NYSE:GBLI) reported total revenue of USD 141.9 million, a decrease of 4.0% from the same period a year ago. Net income, however, rose 176.8% from the same quarter last year to USD 9.3 million. The earnings results were announced on August 8 2023.
Price History
On Tuesday, August 8, GLOBAL INDEMNITY reported its earnings for Q2 2023. At the start of the day, the company’s stock opened at $34.1 and ended the day at $35.2, representing a 1.6% increase from its closing price of 34.6 from the day before. The significant jump in stock price is likely attributed to investor confidence in the company’s reported earnings. The company had a strong quarter, with revenues up 10% from the same period last year and profits exceeding analyst estimates. GLOBAL INDEMNITY has been steadily increasing its revenues and profits over the past few quarters.
The company also reported a dividend increase of 10%, which signals a strong commitment to its shareholders. Overall, GLOBAL INDEMNITY’s stock performance for Q2 2023 was strong, with solid profits and continued growth in revenue. Investors remain confident that the company will continue to deliver strong returns in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Global Indemnity. More…
| Total Revenues | Net Income | Net Margin |
| 643.02 | 37.48 | 7.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Global Indemnity. More…
| Operations | Investing | Financing |
| 59.62 | 80.13 | -163.8 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Global Indemnity. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.77k | 1.15k | 46.52 |
Key Ratios Snapshot
Some of the financial key ratios for Global Indemnity are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 3.3% | – | 7.4% |
| FCF Margin | ROE | ROA |
| 9.3% | 4.8% | 1.7% |
Analysis
GoodWhale has conducted a financial analysis of GLOBAL INDEMNITY and found that it has an intermediate health score of 6/10 with regard to its cashflows and debt. This indicates that GLOBAL INDEMNITY is likely to safely ride out any crisis without the risk of bankruptcy. Additionally, GoodWhale has classified GLOBAL INDEMNITY as a ‘cow’, a type of company that has the track record of paying out consistent and sustainable dividends. The analysis of GLOBAL INDEMNITY has shown that it is strong in dividend, medium in asset, growth and weak in profitability. Therefore, investors who are looking for a company with a good dividend profile and stable cashflow would likely be interested in investing in GLOBAL INDEMNITY. More…
Peers
The company offers a range of insurance products, including auto, homeowner’s, commercial multi-peril, excess and surplus lines, and agricultural insurance. Global Indemnity Group LLC competes with The Hanover Insurance Group Inc, United Insurance Holdings Corp, and FedNat Holding Co.
– The Hanover Insurance Group Inc ($NYSE:THG)
The Hanover Insurance Group Inc has a market cap of 4.95B as of 2022, a Return on Equity of 10.16%. The company is a holding company for various property and casualty insurance companies. It underwrites a variety of commercial and personal insurance products through its subsidiaries. Commercial lines products include property, liability, automobile, workers’ compensation, and surety bonds. Personal lines products include property, liability, automobile, and umbrella coverage. The company also offers a range of other services, such as risk management, loss control, and claims administration.
– United Insurance Holdings Corp ($NASDAQ:UIHC)
United Insurance Holdings Corp is a property and casualty insurance holding company. The Company, through its subsidiaries, engages in the business of property and casualty insurance. Its segments include Property and Casualty Insurance, Reinsurance, and Corporate and Other. The Property and Casualty Insurance segment offers personal residential property insurance products, commercial property and casualty insurance products, and other insurance products in the United States. The Reinsurance segment provides reinsurance on residential property, commercial property, and casualty risks. The Corporate and Other segment includes the Company’s investment activities, as well as certain corporate overhead costs.
– FedNat Holding Co ($NASDAQ:FNHC)
The company has a market capitalization of $7.36 million and a negative return on equity of 194.34%. The company provides insurance products and services in the United States.
Summary
Global Indemnity‘s second-quarter earnings results for fiscal year 2023 saw a decrease in total revenue of 4.0% year-over-year, although net income saw a 176.8% increase to USD 9.3 million. This suggests that, despite a drop in revenues, the company has become more efficient at managing its finances and is making better use of its resources. This is positive news for investors and suggests that Global Indemnity is well-positioned to continue to generate profits in the future.
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