NASDAQ$JRVR

James River Group Holdings Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

James River reported a net loss due to investment volatility but core E&S business grew.

James River Group Holdings reported a net loss of $36.8 million for Q1 2020, driven by investment volatility, particularly in its senior secured bank loan portfolio. However, the core E&S business showed strong growth with gross written premiums up by 37%.

  • Net loss of $36.8 million, or $1.21 per diluted share.
  • Adjusted net operating income of $15.4 million, or $0.50 per diluted share.
  • Core E&S gross written premium grew by 37%.
  • Net investment income increased by 7% to $20.8 million.

Headline financials

Total Revenue

$110M

Previous: $214M-48.5%
EPS (adj)

$0.50

Previous: $0.71-29.6%
Combined Ratio

100.6%

Previous: 96.2%+4.6%
Expense Ratio

34.2%

Previous: 22.6%+51.3%
Loss Ratio

66.4%

Previous: 73.6%-9.8%
Net Investment Income

$20.8M

Previous: $19.4M+7.2%
Capital Expenditures

-$342K

Previous: -$144K-137.5%
Free Cash Flow

-$37.2M

Previous: $22.6M-264.5%
Net Income

-$36.8M

Previous: $22.7M-262.0%
Operating Income

-$65.3M

Previous: $6.87M-1051.0%
Gross Profit

$86.2M

Previous: $196M-55.9%
Cash & Equivalents

$291M

Previous: $133M+119.7%
Total Assets

$5B

Previous: $3.3B+51.5%

Revenue & EPS history

James River · Revenue · Quarterly

$110M

Q1 2020-48.5%vs Q1 2019
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

James River · $113M total across 2 segments · Q1 2020

  • Excess and Surplus Lines
    $99.7M-29.6%
  • Specialty Admitted Insurance
    $13.3M+7.5%

Forward guidance

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-3.3%

Avg return

Earnings day

-5.5%

Avg return

5 days after

-6.3%

Avg return

30 days after

24%

12 / 49 earnings

Positive

+14.7%

Q3 2025

Best reaction

-28.4%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-23.6%-32.3%-35.7%
Q4 2025-6.5%-9.3%-14.2%
Q3 2025+14.7%+6.6%+15.3%
Q1 2025-1.2%-5.1%+19.3%
Q4 2024-28.4%-16.9%-17.6%
Q3 2024-24.3%-29.3%-30.4%
Q2 2024-8.3%-6.4%-11.4%
Q1 2024-7.9%-6.8%-12.5%
Q4 2023-5.6%-6.7%-12.1%
Q3 2023-6.5%-34.4%-37.3%
Q2 2023-8.1%-9.2%-17.8%
Q1 2023+4.4%+6.6%-2.8%
Q4 2022+8.7%+10.2%-6.6%
Q3 2022-5.3%-9.2%-4.5%
Q2 2022-1.3%+2.3%+0.0%
Q1 2022+6.6%+13.0%+12.3%
Q4 2021-19.3%-21.8%-8.6%
Q3 2021-2.0%-3.9%-20.0%
Q2 2021+4.5%+5.6%-0.5%
Q1 2021-27.6%-26.0%-24.3%
Q4 2020-1.9%-5.9%-7.1%
Q3 2020-4.4%-9.2%-9.9%
Q2 2020+2.0%+1.0%+6.2%
Q1 2020-3.5%-7.8%+5.2%
Q4 2019+5.9%+3.2%-33.6%
Q3 2019-1.3%-1.0%+14.5%
Q2 2019-2.1%-1.4%+2.9%
Q1 2019+3.0%+8.9%+5.6%
Q4 2018-3.0%-2.5%-5.5%
Q3 2018-3.8%-9.6%-3.7%
Q2 2018-0.2%-3.2%-1.1%
Q1 2018+5.3%+4.3%+6.8%
Q4 2017-13.2%-15.8%-14.0%
Q3 2017-2.7%-1.9%-4.1%
Q2 2017-0.6%-0.2%-0.7%
Q1 2017-1.7%-5.2%-9.1%
Q4 2016+4.8%+4.1%-2.2%
Q3 2016-2.0%-1.6%+3.8%
Q2 2016+0.8%+3.8%+9.8%
Q1 2016+5.5%
Q4 2013-0.6%
Q4 2015-5.7%
Q3 2014-2.2%
Q3 2015-2.2%
Q2 2014-0.4%
Q2 2015-0.4%
Q1 2014-0.5%
Q1 2015-0.5%
Q4 2014-0.5%
Q3 2013
Q2 2013
Q1 2013

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