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Jun 30, 2024
Goosehead Insurance Q2 2024 Earnings Report
Total revenue increased and core revenue grew over the prior-year period.
Key Takeaways
Goosehead Insurance reported strong second-quarter results with a 13% increase in total revenue and a 20% increase in core revenue. Total written premiums increased by 30%, and net income improved to $10.9 million. The company also repurchased 1.045 million shares during the quarter.
Total revenues grew 13% over the prior-year period to $78.1 million.
Core Revenues increased 20% over the prior-year period to $73.4 million.
Net income improved from $7.2 million a year ago to $10.9 million.
Total Written Premiums increased 30% over the prior-year period to $998.9 million.
Revenue by Segment
Forward Guidance
The Company is reiterating its guidance for full year 2024.
Positive Outlook
- Total written premiums placed for 2024 are expected to be between $3.62 billion and $3.82 billion, representing growth of 22% on the low end of the range to 29% on the high end of the range.
- Total revenues for 2024 are expected to be between $290 million and $310 million, representing growth of 11% on the low end of the range to 19% on the high end of the range.
- Adjusted EBITDA Margin is expected to expand for the full year 2024.
- The company has an unused line of credit of $74.8 million as of June 30, 2024.
- As of June 30, 2024, $36.8 million remains available under the share repurchase authorization.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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