SKYWARD SPECIALTY INSURANCE Reports Q3 Earnings Results for FY2023 on November 6
November 30, 2023
🌥️Earnings Overview
SKYWARD SPECIALTY INSURANCE ($NASDAQ:SKWD) announced its earnings for the quarter ending September 30 2023 on November 6 2023. Revenue was recorded at USD 239.2 million, representing an increase of 47.7% from the same period in 2023. Net income improved from -2.4 million in the prior year to 21.7 million for the current quarter.
Price History
With this slight dip, the stock ended the day down 0.8%. SKYWARD SPECIALTY INSURANCE is an insurance provider that specializes in commercial property and casualty insurance. It serves businesses of all sizes with a range of insurance products and services tailored for their individual needs. The company has seen steady growth over the past few years, with its customer base expanding across the country. The company’s Q3 earnings report provides insights into its financial performance in the quarter, including total revenue and net income.
Additionally, the report outlines the company’s growth strategy and future plans for expanding its product offering and customer base. Overall, SKYWARD SPECIALTY INSURANCE’s Q3 earnings report reveals a positive outlook for the company and its future success. With its strong financial performance and well-executed growth strategy, SKYWARD SPECIALTY INSURANCE is well-positioned to continue delivering strong returns to its shareholders for many years to come. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for SKWD. More…
| Total Revenues | Net Income | Net Margin |
| 835.41 | 65.89 | 9.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for SKWD. More…
| Operations | Investing | Financing |
| 302.56 | -372.93 | 67.55 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for SKWD. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.85k | 2.32k | 14.21 |
Key Ratios Snapshot
Some of the financial key ratios for SKWD are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| – | – | 12.9% |
| FCF Margin | ROE | ROA |
| 35.9% | 12.7% | 2.4% |
Analysis
GoodWhale recently conducted an analysis of SKYWARD SPECIALTY INSURANCE’s wellbeing and according to our Star Chart, SKYWARD SPECIALTY INSURANCE has been classified as a ‘cheetah’, meaning it has achieved high revenue or earnings growth, but is considered less stable due to lower profitability. This type of company may be interesting to growth-oriented investors who are looking for opportunities with potential for high returns. In terms of health, SKYWARD SPECIALTY INSURANCE has scored an 8 out of 10, indicating that it is capable of covering its debts and funding future operations from its current cash flows. It is particularly strong in terms of growth potential, medium in terms of asset quality and weak in terms of dividend yield and profitability. More…
Peers
Skyward Specialty Insurance Group Inc is an insurance company that provides comprehensive coverage and specialized protection. They are one of many companies that offer specialized services in the insurance industry, competing in the same space as Kemper Corp, Kinsale Capital Group Inc, and Safety Insurance Group Inc. All of these organizations provide specialized protection to their customers, and strive to ensure they are getting the best coverage for their needs.
– Kemper Corp ($NYSE:KMPR)
Kemper Corporation is a financial services holding company that offers insurance, investment and banking products to its customers. It has a market capitalization of 4.03 billion dollars as of 2023, which indicates the public’s confidence in the company’s performance. The company also has a negative return on equity (ROE) of -8.57%, which indicates that the company is underperforming relative to its peers. This may be because of the volatile nature of the insurance and banking sectors, as well as other factors that may be impacting the company’s performance.
– Kinsale Capital Group Inc ($NYSE:KNSL)
Kinsale Capital Group Inc is an insurance holding company based in Virginia, USA. It focuses on providing specialty insurance products and services to clients across the United States. Its market cap as of 2023 is 7.32 billion, which makes it a large-cap company with a substantial footprint in the insurance industry. Moreover, it has an impressive Return on Equity (ROE) of 20.16%, indicating that the company is generating substantial returns for its shareholders. Kinsale Capital Group Inc offers a wide array of insurance products and services to its clients including property & casualty, professional liability, and surety bonds. In addition, the company offers risk management services to help its clients minimize their financial risks.
– Safety Insurance Group Inc ($NASDAQ:SAFT)
Safety Insurance Group Inc. is an insurance holding company based in Boston, Massachusetts. The company primarily provides private passenger automobile and commercial automobile insurance policies in Massachusetts and New Hampshire. Safety Insurance has a market cap of 1.17 billion as of 2023, and a return on equity of 4.71%. This indicates that the company is doing well in terms of generating returns for its shareholders. The company has been able to maintain a stable market cap over the years, despite volatile market conditions, as well as a healthy return on equity. This demonstrates the company’s strong financial performance, as well as its ability to effectively manage its operations.
Summary
This impressive performance could be an indication of the company’s potential for future growth and a good opportunity for investors to consider investing in the company. The company’s strong fundamentals should also provide investors with the confidence that their investment is secure and has potential for long-term gains.
Related Posts
Recent Posts
