Business
Tiptree Reports Q4 and FY2019 Results
Revenues of $208.5 million for Q4’19 and $772.7 million for FY’19, up 36.8% and 23.5%, respectively from Q4’18 and from FY’18. Net income of $4.2 million for
About this update from Tiptree Inc.
[{"type":"text","content":"\n\nRevenues of $208.5 million for Q4’19 and $772.7 million for FY’19, up 36.8% and 23.5%, respectively from Q4’18 and from FY’18.\n\n\nNet income of $4.2 million for Q4’19, up from $0.1 million in Q4’18, driven by growth in our Insurance operations and improved returns in Tiptree Capital. Net income of $18.4 million for FY’19, down $5.5 million from prior year driven by non-recurring gain from sale of Care in 2018, partially offset by improved performance in Insurance operations and Tiptree Capital.\n\n\nOperating EBITDA(1) of $21.0 million for the quarter and $63.6 million for the year, an increase of 26.5% and 15.8%, respectively, from Q4’18 and FY’18, driven by growth in insurance operations and contributions from our shipping and mortgage operations within Tiptree Capital.\n\n\nBook value per share as of December 31, 2019 was $11.52, which including dividends paid represents a 8.2%(2) year over year return.\n\n\nDeclared a dividend of $0.04 per share to stockholders of record on March 23, 2020 with a payment date of March 30, 2020.\n\n\n\n \n\n NEW YORK--(BUSINESS WIRE)--\nTiptree Inc. (NASDAQ:TIPT) (“Tiptree” or the “Company”), a holding company that combines specialty insurance operations with investment management, today announced its financial results for the year ended December 31, 2019.\n\n\n\n\nSummary Consolidated Statements of Operations\n\n\n\n\n\n($ in millions, except per share information)\n\n\n\nThree Months Ended\nDecember 31,\n\n\n\n \n\n\n\nYear Ended\nDecember 31,\n\n\n\n\n\nGAAP:\n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n \n\n\n\n2019\n\n\n\n \n\n\n\n2018\n\n\n\n\n\nTotal revenues\n\n\n\n$\n\n\n\n \n\n\n\n208.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n152.4\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n772.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n625.8\n\n\n\n \n\n\n\n\n\nNet income attributable to Common Stockholders\n\n\n\n$\n\n\n\n \n\n\n\n4.2\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n0.1\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n18.4\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n23.9\n\n\n\n \n\n\n\n\n\nDiluted earnings per share\n\n\n\n$\n\n\n\n \n\n\n\n0.11\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n0.01\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n0.50\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n \n\n\n\n0.69\n\n\n\n \n\n\n\n\n\nCash dividends paid per common share\n\n\n\n$\n\n\n\n \n\n\n\n0.040\n\n\n\n \n\n\n...