Loading...
•
Mar 31, 2020
Goosehead Insurance Q1 2020 Earnings Report
Goosehead Insurance's first quarter revenues were reported as $20.4 million, with total written premiums increasing by 46%.
Key Takeaways
Goosehead Insurance reported a decrease in revenues to $20.4 million, but an increase of 46% in total written premiums. The company experienced a net loss of $156 thousand, with adjusted EPS at $0.00 per share.
Revenues were $20.4 million, but would have been $24.9 million under ASC 605.
Core Revenues were $18.2 million under ASC 606.
Net loss attributable to Goosehead Insurance, Inc. was $156 thousand, or $0.01 per share.
Total written premiums placed increased 46% to $214 million.
Forward Guidance
The Company is maintaining its full-year 2020 outlook with respect to written premiums and revenue.
Positive Outlook
- Total written premiums placed for 2020 are expected to be between $975 million and $1.035 billion, representing organic growth of 32% on the low end of the range to 40% on the high end of the range.
- Total revenues for 2020 under ASC 606 revenue accounting are expected to be between $100 million and $105 million, representing organic growth of 29% on the low end of the range to 36% on the high end of the range.
- Company's go to market strategy is unique.
- Company is continuing investment in industry leading technology and human capital.
- Company has unmatched sales and service capabilities.
Challenges Ahead
- Conditions impacting insurance carriers or other parties with which Goosehead does business.
- The economic effects of the COVID-19 pandemic.
- The loss of one or more key executives or an inability to attract and retain qualified personnel.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...