NYSE$WRB

W R Berkley Corporation · Q1 2022 earnings

Q1 2022 earnings · · Investor relations

Briefing

Reported record quarterly underwriting income and net income, with a significant increase in net income and a high return on equity.

W. R. Berkley Corporation reported exceptional results for the first quarter of 2022, driven by record underwriting results and strong investment income, including gains from investment sales. The company achieved a 35.5% return on equity and growth in book value per share.

  • Return on equity of 35.5%.
  • Record quarterly underwriting income and net income of $274.4 million and $590.6 million, respectively.
  • Net premiums written increased nearly 18% to a quarterly record of $2.4 billion.
  • The reported combined ratio was 87.8%, including catastrophe losses of $28.8 million.

Headline financials

Total Revenue

$2.92B

Previous: $2.16B+35.2%
EPS (adj)

$0.73

Previous: $0.48+52.1%
Return on equity

35.5%

Previous: 14.5%+144.8%
Free Cash Flow

$591M

Previous: $230M+157.3%
Net Income

$591M

Previous: $230M+157.3%
Operating Income

-$607M

Previous: -$824M+26.4%
Gross Profit

$732M

Previous: $296M+147.4%
Cash & Equivalents

$2.11B

Previous: $2.12B-0.4%
Total Assets

$32.3B

Previous: $29.8B+8.3%
Stock-Based Comp

$11.4M

Previous: $11.8M-3.2%

Revenue & EPS history

W. R. Berkley · Revenue · Quarterly

$2.92B

Q1 2022+35.2%vs Q1 2021
Beat estimate in 13 of 16 quarters(81%)
ActualEstimate

Revenue by segment

W. R. Berkley · $2.25B total across 2 segments · Q1 2022

  • Insurance
    $1.96B
  • Reinsurance & Monoline Excess
    $286M

Forward guidance

The Company is performing exceptionally well and we continue to be optimistic about our opportunities going forward.

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

+0.1%

Avg return

Earnings day

+0.6%

Avg return

5 days after

+2.8%

Avg return

30 days after

57%

39 / 69 earnings

Positive

+8.4%

Q4 2023

Best reaction

-8.5%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.5%+1.2%+3.3%
Q4 2025+0.4%+2.5%+7.0%
Q3 2025+2.2%+2.1%+5.2%
Q2 2025-1.1%+1.5%+3.2%
Q1 2025+5.2%+4.7%+7.2%
Q4 2024+3.2%+2.3%+6.7%
Q3 2024-4.5%-5.1%-0.5%
Q2 2024+1.3%+4.9%+11.8%
Q1 2024-6.7%-8.1%-5.5%
Q4 2023+8.4%+5.7%+11.1%
Q3 2023+5.5%+3.2%+12.3%
Q2 2023+1.6%+0.2%+2.2%
Q1 2023-8.5%-8.3%-8.2%
Q4 2022-3.1%-1.8%-7.1%
Q3 2022-3.2%+2.7%+4.2%
Q2 2022-1.6%-0.2%+6.2%
Q1 2022-1.0%-2.2%+1.5%
Q4 2021+2.8%+4.2%+10.7%
Q3 2021+4.8%+4.3%+2.3%
Q2 2021-2.2%-2.9%-0.2%
Q1 2021-0.3%+0.7%-2.8%
Q4 2020-6.7%-5.9%+5.6%
Q3 2020+6.4%+7.4%+9.2%
Q2 2020+0.8%+0.9%-5.1%
Q1 2020-7.2%-9.1%+0.9%
Q4 2019+1.6%+2.7%-2.2%
Q3 2019+1.3%-2.1%-4.4%
Q2 2019+3.1%+5.7%+9.3%
Q1 2019+4.6%+5.1%+6.5%
Q4 2018+2.6%+3.5%+11.4%
Q3 2018-0.5%+0.8%+6.2%
Q2 2018-0.5%+1.0%+4.0%
Q1 2018+1.9%+1.5%+2.9%
Q4 2017+1.8%+2.3%-5.3%
Q3 2017+0.4%-0.7%-5.2%
Q2 2017-3.0%-3.2%-6.0%
Q1 2017+0.3%-0.0%-0.1%
Q4 2016-0.3%+0.8%+5.5%
Q3 2016+2.3%+1.4%+9.9%
Q2 2016-0.4%-1.3%-1.0%
Q1 2016+1.9%
Q4 2015+0.5%
Q3 2015+2.3%
Q2 2015-2.8%
Q1 2015+0.3%
Q4 2014-2.4%
Q3 2014+3.4%
Q2 2014+0.5%
Q1 2014+2.8%
Q4 2013+0.7%
Q3 2013-1.7%
Q2 2013-3.5%
Q1 2013-0.7%
Q4 2012-1.0%
Q3 2012+1.9%
Q2 2012-2.1%
Q1 2012+0.7%
Q4 2011-0.7%
Q3 2011+2.0%
Q2 2011-7.5%
Q1 2010+1.2%
Q1 2011+3.1%
Q4 2010-0.9%
Q3 2010-3.2%
Q3 2009-3.2%
Q4 2009+0.6%
Q2 2010+0.6%
Q4 2008+0.6%
Q2 2009+0.6%

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