Business
Tiptree Reports Q3 2020 Results
Revenues of $224.0 million for the quarter, up $34.8 million or 18.4% from the prior year period. Year-to-date revenues of $552.9 million, down 2% from the
About this update from Tiptree Inc.
[{"type":"text","content":"\n\nRevenues of $224.0 million for the quarter, up $34.8 million or 18.4% from the prior year period. Year-to-date revenues of $552.9 million, down 2% 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\n\nOperating EBITDA(1) of $31.9 million increased 84.4% from the prior year period. Year-to-date Operating EBITDA of $69.9 million, increased 64.1% from prior year period. Improvements versus prior year driven by growth in insurance premiums and mortgage volumes, and improving margins in both businesses.\n\n\n\nBook value per share of $10.36 as of September 30, 2020, an increase of 4.3% (including dividends paid of $0.04) from prior quarter driven by strong underlying operations and year-to-date repurchases of 1.477 million shares at an average 37% discount to book value.\n\n\n\nDeclared a dividend of $0.04 per share to stockholders of record on November 23, 2020 with a payment date of November 30, 2020.\n\n\n NEW YORK--(BUSINESS WIRE)--\nTiptree Inc. (NASDAQ:TIPT) (“Tiptree” or the “Company”), a holding company that combines specialty insurance operations with investment management, today announced its financial results for the three and nine months ended September 30, 2020.\n\n\n\n($ in millions, except per share information)\n\n\n\nThree Months Ended\nSeptember 30, \n\n\n\n \n\n\n\nNine Months Ended\nSeptember 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$\n\n\n\n224.0\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n189.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n552.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n564.2\n\n\n\n \n\n\n\n\n\nNet income (loss) attributable to common stockholders\n\n\n\n$\n\n\n\n12.8\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(1.5)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(43.4)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n14.2\n\n\n\n \n\n\n\n\n\nDiluted earnings per share\n\n\n\n$\n\n\n\n0.35\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(0.04)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(1.27)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.39\n\n\n\n \n\n\n\n\n\nCash dividends paid per common share\n\n\n\n$\n\n\n\n0.04\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.04\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.12\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n0.115\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 ...