NYSE$OSG
Octave Specialty Group Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported a net loss of $13 million and Adjusted net income of $3 million.
Ambac Financial Group reported a net loss of $13 million, or $(0.29) per diluted share, but an adjusted net income of $3 million, or $0.07 per diluted share. The company saw growth in its Specialty P&C Insurance and Insurance Distribution segments, with combined premium production up 45% year-over-year. Ambac also made progress in de-risking its Legacy Financial Guarantee business through a reinsurance transaction.
- Net loss of $(13) million or $(0.29) per diluted share and Adjusted net income of $3 million or $0.07 per diluted share
- Specialty P&C Insurance gross written premium of $53 million, up 30% from the second quarter of 2022
- Insurance Distribution premiums placed of $41 million, up 71% from the second quarter of 2022
- Legacy Financial Guarantee Net Par Outstanding reduced 9.3%; Watch List and Adversely Classified Credits reduced 19.6%
Headline financials
Revenue & EPS history
Ambac · Revenue · Quarterly
$62M
Revenue by segment
Ambac · $20.7M total across 2 segments · Q2 2023
- Specialty P&C Insurance$10.7M—51.7%
- Insurance Distribution$10M+56.3%48.3%
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 Q2 2023
+0.4%
Avg return
Earnings day
+1.5%
Avg return
5 days after
-0.4%
Avg return
30 days after
47%
24 / 51 earnings
Positive
+23.0%
Q1 2024
Best reaction
-19.9%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.7% | +26.9% | +24.9% | |
| Q3 2025 | +15.6% | +9.6% | -3.7% | |
| Q2 2025 | -15.9% | -0.8% | +9.8% | |
| Q1 2025 | -19.9% | -3.7% | -18.6% | |
| Q4 2024 | -10.8% | -22.4% | -25.8% | |
| Q3 2024 | +11.0% | +6.3% | +13.9% | |
| Q1 2024 | +23.0% | +23.8% | -5.9% | |
| Q4 2023 | +1.6% | -2.9% | -6.2% | |
| Q3 2023 | +7.2% | +17.1% | +19.9% | |
| Q2 2023 | -5.1% | -1.9% | -8.3% | |
| Q1 2023 | -3.1% | -3.1% | -7.1% | |
| Q4 2022 | +5.4% | +4.3% | -7.3% | |
| Q3 2022 | +0.7% | +12.0% | +21.7% | |
| Q2 2022 | +15.5% | +33.6% | +31.3% | |
| Q1 2022 | +6.2% | +15.1% | +51.7% | |
| Q4 2021 | -6.5% | -14.0% | -38.3% | |
| Q3 2021 | -4.0% | -2.5% | -7.9% | |
| Q2 2021 | -3.7% | -1.0% | -3.7% | |
| Q1 2021 | -11.4% | -16.5% | -9.2% | |
| Q4 2020 | -1.1% | +0.2% | -1.2% | |
| Q3 2020 | +12.2% | +10.0% | +36.8% | |
| Q2 2020 | +2.5% | +4.7% | -3.5% | |
| Q1 2020 | -16.4% | -25.1% | -15.3% | |
| Q4 2019 | -1.6% | -2.3% | -40.8% | |
| Q3 2019 | -0.1% | -0.4% | +1.3% | |
| Q2 2019 | +0.1% | +1.6% | +1.8% | |
| Q1 2019 | -8.5% | -8.8% | -20.0% | |
| Q4 2018 | +3.6% | +2.3% | -7.9% | |
| Q3 2018 | -10.1% | -12.3% | -22.3% | |
| Q2 2018 | +5.8% | +5.4% | +2.0% | |
| Q1 2018 | +8.3% | +10.2% | +17.5% | |
| Q4 2017 | +0.1% | -0.9% | +3.4% | |
| Q3 2017 | -13.9% | -9.7% | -3.2% | |
| Q2 2017 | -0.5% | -4.4% | -10.7% | |
| Q1 2017 | -5.6% | -5.8% | -7.1% | |
| Q4 2016 | -0.5% | +1.8% | -15.4% | |
| Q3 2016 | +9.8% | +14.5% | +35.6% | |
| Q2 2016 | -4.1% | -3.9% | +1.3% | |
| Q1 2016 | -1.2% | — | — | |
| Q4 2015 | +9.0% | — | — | |
| Q3 2015 | -6.2% | — | — | |
| Q2 2015 | +14.4% | — | — | |
| Q1 2015 | +6.4% | — | — | |
| Q4 2014 | -0.9% | — | — | |
| Q3 2014 | +5.8% | — | — | |
| Q2 2014 | -2.4% | — | — | |
| Q1 2014 | +0.5% | — | — | |
| Q4 2013 | -0.2% | — | — | |
| Q3 2013 | +7.3% | — | — | |
| Q4 2012 | +7.3% | — | — | |
| Q2 2013 | -1.4% | — | — | |
| Q1 2013 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2011 | — | — | — | |
| Q1 2012 | — | — | — | |
| Q4 2010 | — | — | — | |
| Q4 2011 | — | — | — | |
| Q3 2010 | — | — | — | |
| Q3 2011 | — | — | — | |
| Q2 2010 | — | — | — | |
| Q2 2011 | — | — | — | |
| Q1 2010 | — | — | — |
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