NYSE$UVE
Universal Insurance Holdings Inc · Q4 2022 earnings
Q4 2022 earnings · · Investor relations
Briefing
Universal Insurance reported mixed results for Q4 2022, with increased revenues but a high combined ratio.
Universal Insurance Holdings reported a net income of $25.1 million for Q4 2022, compared to a net loss of $48.1 million in the prior year quarter. Total revenues increased by 12.9% to $330.4 million. The net combined ratio was 101.4%, down from 131.4% in the prior year quarter.
- Diluted GAAP EPS was $0.82, while adjusted EPS was $0.72.
- Book value per share increased to $9.47, up 10.9% from Q3 2022.
- Net combined ratio improved to 101.4%, a decrease from 131.4% in the prior year quarter.
- Direct premiums written rose to $416.1 million, a 4.2% increase year-over-year.
Headline financials
Revenue & EPS history
Universal Insurance · Revenue · Quarterly
$330M
Revenue by segment
Universal Insurance · $16.1M total across 3 segments · Q2 2020
- Commission Revenue$7.76M—48.1%
- Policy Fees$6.55M—40.6%
- Other Revenue$1.81M—11.2%
Forward guidance
The company did not provide specific forward guidance in this earnings report. However, the CEO expressed confidence that the legislative reforms would restore the health of the market over the long term.
Tailwinds
- Meaningful reforms passed at the recent special legislative session.
- Elimination of one-way attorney fees and assignment-of-benefits.
- Shortening the claims filing deadline to one year.
- Taking steps to reduce the competitiveness of Citizens.
- Differentiated business model, solid balance sheet and strong reinsurer relationships.
Headwinds
- Florida homeowners insurance market has faced significant challenges.
- It will take time for the reforms to benefit results.
- Higher reinsurance pricing.
- Higher reinsurance costs associated with the increase in insured values.
- Lower policies in force.
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 Q4 2022
+0.5%
Avg return
Earnings day
+3.4%
Avg return
5 days after
+4.4%
Avg return
30 days after
57%
37 / 65 earnings
Positive
+22.0%
Q4 2023
Best reaction
-21.4%
Q3 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -5.0% | -5.3% | -10.3% | |
| Q4 2025 | +2.8% | +13.9% | +5.5% | |
| Q3 2025 | +11.3% | +9.8% | +16.5% | |
| Q2 2025 | -3.1% | +0.5% | +4.2% | |
| Q1 2025 | +1.0% | +3.6% | +12.4% | |
| Q4 2024 | +9.3% | +8.5% | +13.8% | |
| Q3 2024 | -2.0% | +2.4% | +16.6% | |
| Q2 2024 | -1.6% | +4.0% | +8.4% | |
| Q1 2024 | -3.6% | -3.7% | -3.4% | |
| Q4 2023 | +22.0% | +18.6% | +14.2% | |
| Q3 2023 | -0.7% | +10.3% | +18.5% | |
| Q2 2023 | -5.2% | -2.8% | -18.7% | |
| Q1 2023 | -17.0% | -13.1% | -19.0% | |
| Q4 2022 | +21.5% | +56.1% | +47.4% | |
| Q3 2022 | +1.9% | +5.4% | +12.8% | |
| Q2 2022 | +6.8% | +6.5% | +7.1% | |
| Q1 2022 | +4.1% | +4.2% | +5.7% | |
| Q4 2021 | -3.1% | -25.8% | -29.0% | |
| Q3 2021 | +7.6% | +8.5% | +13.4% | |
| Q2 2021 | +5.7% | +4.9% | +9.4% | |
| Q1 2021 | +2.1% | +6.3% | +3.8% | |
| Q4 2020 | +5.2% | +3.7% | +6.0% | |
| Q3 2020 | -21.4% | -11.6% | +4.4% | |
| Q2 2020 | +2.8% | +3.2% | +9.9% | |
| Q1 2020 | +4.4% | +1.3% | +6.8% | |
| Q4 2019 | -0.7% | +8.3% | -22.6% | |
| Q3 2019 | -7.3% | -5.8% | -0.5% | |
| Q2 2019 | -0.4% | +5.3% | -0.6% | |
| Q1 2019 | +0.0% | -1.1% | -5.8% | |
| Q4 2018 | -15.4% | -18.7% | -20.0% | |
| Q3 2018 | -8.3% | -8.6% | -7.3% | |
| Q2 2018 | +11.4% | +17.5% | +20.3% | |
| Q1 2018 | +3.5% | +2.0% | +10.3% | |
| Q4 2017 | +6.9% | +3.4% | +8.6% | |
| Q3 2017 | +7.9% | +8.5% | +10.9% | |
| Q2 2017 | +0.6% | +2.8% | -4.2% | |
| Q1 2017 | +13.8% | +13.8% | +8.7% | |
| Q4 2016 | +4.8% | +4.2% | -8.6% | |
| Q3 2016 | -5.0% | -7.2% | +15.6% | |
| Q2 2016 | +5.4% | +3.3% | +15.9% | |
| Q1 2016 | -1.4% | — | — | |
| Q4 2015 | +5.9% | — | — | |
| Q3 2015 | -12.0% | — | — | |
| Q2 2015 | +8.5% | — | — | |
| Q1 2015 | +3.9% | — | — | |
| Q4 2014 | +11.5% | — | — | |
| Q3 2014 | +13.5% | — | — | |
| Q2 2014 | +4.4% | — | — | |
| Q1 2014 | -14.4% | — | — | |
| Q4 2013 | +5.4% | — | — | |
| Q3 2013 | +0.5% | — | — | |
| Q2 2013 | +6.3% | — | — | |
| Q1 2013 | +4.4% | — | — | |
| Q4 2012 | +4.0% | — | — | |
| Q3 2012 | +3.4% | — | — | |
| Q2 2012 | +1.5% | — | — | |
| Q1 2011 | -0.3% | — | — | |
| Q1 2012 | +2.1% | — | — | |
| Q4 2011 | -11.9% | — | — | |
| Q4 2009 | -11.9% | — | — | |
| Q3 2010 | -10.9% | — | — | |
| Q3 2011 | -10.9% | — | — | |
| Q2 2010 | -10.2% | — | — | |
| Q4 2010 | -10.2% | — | — | |
| Q2 2011 | -10.2% | — | — |
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