NYSE$ORI

Old Republic International Corp · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Old Republic's financial performance for Q1 2022 was reported, demonstrating solid underwriting results in both General and Title Insurance, though Title Insurance results were affected by increasing mortgage interest rates.

Old Republic International Corporation reported a pretax income, excluding investment gains, of $237.5 million for the quarter. The consolidated combined ratio was 91.9%. Consolidated net premiums and fees earned was $1.9 billion, representing growth of 4.4% compared to the 2021 period.

  • Pretax income, excluding investment gains, was $237.5 million.
  • Consolidated net premiums and fees earned grew by 4.4% to $1.9 billion.
  • General Insurance net earned premiums increased by 6.0%.
  • The consolidated combined ratio was 91.9%.

Headline financials

Total Revenue

$2.06B

Previous: $1.98B+4.1%
EPS (adj)

$0.63

Previous: $0.69-8.7%
Consolidated Combined Ratio

91.9%

Previous: 90.9%+1.1%
General Insurance Combined

91.6%

Previous: 91.6%+0.0%
Title Insurance Combined

92.9%

Previous: 90.3%+2.9%
Net Income

$306M

Previous: $502M-39.0%
Operating Income

$383M

Previous: $631M-39.3%
Gross Profit

$2.21B

Previous: $2.35B-6.3%
Cash & Equivalents

$95.1M

Previous: $123M-22.9%
Total Assets

$25.1B

Previous: $23B+9.0%

Revenue & EPS history

Old Republic · Revenue · Quarterly

$2.06B

Q1 2022+4.1%vs Q1 2021
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

Old Republic · $1.91B total across 2 segments · Q1 2022

  • Title Insurance
    $999M+3.2%
  • Specialty Insurance
    $911M+6.0%

Forward guidance

Management believes results are best evaluated by looking at underwriting and overall operating performance trends over 10-year intervals. These likely include one or two economic and/or underwriting cycles.

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 2022

Historical avgQ1 2022

-0.4%

Avg return

Earnings day

+0.2%

Avg return

5 days after

+2.5%

Avg return

30 days after

51%

35 / 68 earnings

Positive

+9.2%

Q3 2018

Best reaction

-10.1%

Q3 2016

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-5.2%-4.5%-6.4%
Q4 2025-9.3%-10.3%-4.4%
Q3 2025-3.0%-6.3%+9.1%
Q2 2025-2.5%-0.8%+9.0%
Q1 2025+1.2%-0.6%-1.4%
Q4 2024+1.3%+2.6%+2.1%
Q3 2024-3.9%-1.8%+7.9%
Q1 2024-0.6%-1.5%+4.0%
Q4 2023-7.9%-7.0%-5.4%
Q3 2023+0.4%+2.0%+7.9%
Q2 2023+1.5%+1.8%+0.3%
Q1 2023+2.6%+3.5%+0.6%
Q4 2022+5.1%+6.8%+6.8%
Q3 2022+2.2%+1.5%+6.5%
Q2 2022+2.0%+0.1%+5.3%
Q1 2022-7.8%-5.6%-0.8%
Q4 2021+2.7%+4.6%+6.2%
Q3 2021+7.8%+8.3%+4.9%
Q2 2021-0.2%+0.4%+7.7%
Q1 2021+1.1%+2.7%+10.0%
Q4 2020+0.7%+5.1%+7.5%
Q3 2020+6.4%+0.3%+14.4%
Q2 2020-4.9%-6.3%-7.8%
Q1 2020-0.9%+5.6%-2.1%
Q4 2019+1.9%+0.6%+1.2%
Q3 2019-5.3%-6.1%-6.7%
Q2 2019-2.1%-1.8%-2.7%
Q1 2019+4.2%+5.5%+6.4%
Q4 2018-7.8%-7.9%-2.8%
Q3 2018+9.2%+10.8%+8.2%
Q2 2018+2.4%+4.3%+9.2%
Q1 2018-3.3%-3.6%+0.0%
Q4 2017+7.4%+7.8%-0.7%
Q3 2017+0.4%+4.4%+7.5%
Q2 2017-4.2%-2.2%-2.9%
Q1 2017+2.3%-0.3%-2.4%
Q4 2016+5.9%+6.3%+6.7%
Q3 2016-10.1%-8.6%-1.2%
Q2 2016-1.6%-2.1%-3.5%
Q1 2016+1.0%
Q4 2015+1.3%
Q3 2015+8.1%
Q2 2015+0.4%
Q1 2015+2.5%
Q4 2014-1.6%
Q3 2014-1.2%
Q2 2014-7.6%
Q1 2014-1.6%
Q4 2013-8.2%
Q3 2013+7.7%
Q2 2013+2.1%
Q1 2013+0.6%
Q4 2012-0.7%
Q3 2012-5.9%
Q2 2012+0.6%
Q1 2012-0.9%
Q4 2011+2.1%
Q3 2011-4.6%
Q2 2011-5.1%
Q1 2010-0.2%
Q1 2011+4.0%
Q4 2008-2.3%
Q4 2010-2.3%
Q3 2010+0.7%
Q2 2009+0.7%
Q3 2009+0.7%
Q2 2010-1.5%
Q4 2009-1.5%

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