OLD REPUBLIC INTERNATIONAL Reports Q2 FY2023 Earnings Results on July 27 2023
August 10, 2023
🌥️Earnings Overview
On July 27 2023, OLD REPUBLIC INTERNATIONAL ($NYSE:ORI) announced their earnings results for the second quarter of FY2023, ended June 30 2023. Total revenue for the quarter was USD 1798.2 million, representing a decrease of 0.7% compared to Q2 FY2022. Net income was reported to be USD 155.5 million, an impressive rise from the -40.1 million reported in the previous year.
Share Price
At the start of the day, its stock opened at $27.2 and closed at $26.9, representing a decrease of 1.1% from the previous day’s closing price of $27.2. These results highlighted how OLD REPUBLIC INTERNATIONAL had performed during the quarter, providing insight into the progress it had made and how it was positioned for the rest of the fiscal year. The company’s financial performance during the quarter included an increase in revenue and a decrease in net income compared to the same time frame in the previous year. Investors will be closely monitoring these numbers to determine whether or not OLD REPUBLIC INTERNATIONAL is meeting their expectations for the year.
Overall, the results from OLD REPUBLIC INTERNATIONAL’s Q2 earnings report demonstrated that the company has been making progress in terms of revenue and profitability. With these figures in mind, investors will continue to watch how the company performs throughout the fiscal year to determine if they will remain invested in the company or not. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for ORI. More…
| Total Revenues | Net Income | Net Margin |
| 7.62k | 775.7 | 10.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for ORI. More…
| Operations | Investing | Financing |
| 1.05k | -415 | -832.7 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for ORI. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 25.85k | 19.73k | 21.63 |
Key Ratios Snapshot
Some of the financial key ratios for ORI are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.2% | – | 13.7% |
| FCF Margin | ROE | ROA |
| 13.8% | 10.3% | 2.5% |
Analysis
At GoodWhale, we have conducted an analysis on OLD REPUBLIC INTERNATIONAL’s fundamentals. Through our star chart, we found that OLD REPUBLIC INTERNATIONAL had a high health score of 8/10 and was capable of sustaining its future operations in times of crisis. We also found that OLD REPUBLIC INTERNATIONAL was strong in dividend and weak in asset and profitability. Based on this analysis, we classified OLD REPUBLIC INTERNATIONAL as a ‘cow’, meaning that it has the track record of paying out consistent and sustainable dividends. Given this information, we suspect that investors seeking out consistent dividends may be interested in this company. More…
Peers
Old Republic International Corp is one of the largest insurance companies in the world. Its competitors include Goosehead Insurance Inc, Cosmos Insurance PCL, and Advance Create Co Ltd.
– Goosehead Insurance Inc ($NASDAQ:GSHD)
Goosehead Insurance Inc is a insurance company that offers a variety of insurance products, includingauto, home, life, and health insurance. The company has a market cap of 882.32M as of 2022 and a ROE of -45.93%. Goosehead Insurance Inc was founded in 2006 and is headquartered in Irving, Texas.
– Cosmos Insurance PCL ($LTS:0E1C)
Advance Create Co Ltd is a Japanese company that manufactures and sells electronic and electrical products. The company has a market capitalization of 21.52 billion as of 2022 and a return on equity of 17.58%. The company’s products include semiconductors, integrated circuits, and other electronic components. Advance Create Co Ltd is a publicly traded company listed on the Tokyo Stock Exchange.
Summary
OLD REPUBLIC INTERNATIONAL reported their earnings results for the second quarter of FY2023, which showed total revenue of USD 1798.2 million, a slight decrease of 0.7% from the same period last year. This indicates strong growth in profitability for the company and suggests that it may be a good time to consider investing in OLD REPUBLIC INTERNATIONAL. Investors should be aware however that quarter-to-quarter performance can vary and should conduct further research before investing.
