Business
Tiptree Reports Q2 2020 Results
Revenues of $199.2 million for the quarter, up $8.1 million or 4.2% from the prior year period. Year-to-date revenues of $328.9 million, down 12.3% from the
About this update from Tiptree Inc.
[{"type":"text","content":"\n\nRevenues of $199.2 million for the quarter, up $8.1 million or 4.2% from the prior year period. Year-to-date revenues of $328.9 million, down 12.3% from the prior year period, driven by unrealized investment mark-to-market losses. Excluding marks, year-to-date revenues up 16.9% versus 2019.\n\n\nOperating EBITDA(1) of $22.2 million increased 74.8% from the prior year period, primarily driven by improved performance in Tiptree Capital. Year-to-date Operating EBITDA of $38.0 million, increased 50.2% from prior year period, driven by improvements in Tiptree Insurance and Tiptree Capital.\n\n\nBook value per share of $9.97 as of June 30, 2020, a decrease of 11.7% (including dividends paid of $0.16 per share), driven by unrealized mark-to-market losses partially offset by the purchase and retirement of 1.3 million shares at an average 40% discount to book value.\n\n\nDeclared a dividend of $0.04 per share to stockholders of record on August 24, 2020 with a payment date of August 31, 2020.\n\n\n NEW YORK--(BUSINESS WIRE)--\nTiptree Inc. (NASDAQ:TIPT) (“Tiptree” or the “Company”), a holding company that combines specialty insurance operations with investment management, today announced its financial results for the three and six months ended June 30, 2020.\n\n\n\n\n($ in millions, except per share information)\n\n\n\nThree Months Ended\nJune 30,\n\n\n\n \n\n\n\nSix Months Ended\nJune 30,\n\n\n\n\n\nGAAP:\n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2020\n\n\n\n \n\n\n\n2019\n\n\n\n\n\nTotal revenues\n\n\n\n$\n\n\n\n199.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n191.1\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n328.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n375.0\n\n\n\n \n\n\n\n\n\nNet income (loss) attributable to common stockholders\n\n\n\n$\n\n\n\n3.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n11.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(56.2\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n15.7\n\n\n\n \n\n\n\n\n\nDiluted earnings per share\n\n\n\n$\n\n\n\n0.10\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.32\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(1.64\n\n\n\n)\n\n\n\n \n\n\n\n$\n\n\n\n0.43\n\n\n\n \n\n\n\n\n\nCash dividends paid per common share\n\n\n\n$\n\n\n\n0.040\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.075\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.080\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.075\n\n\n\n \n\n\n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n \n\n\n\n\n\nNon-GAAP:...