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Sep 30, 2024
Goosehead Insurance Q3 2024 Earnings Report
Reported a 10% increase in total revenue and a 16% growth in core revenue compared to the prior-year period.
Key Takeaways
Goosehead Insurance announced strong third quarter 2024 results, with total revenue increasing by 10% and core revenue growing by 16% year-over-year. The company achieved a net income of $12.6 million and an adjusted EBITDA of $26.1 million. Total written premiums increased by 28% to $1.03 billion.
Total revenues increased by 10% to $78.0 million in the third quarter of 2024.
Core revenues increased by 16% to $73.5 million in the third quarter of 2024.
Net income increased to $12.6 million, with an EPS of $0.31.
Total written premiums placed increased by 28% to $1.03 billion.
Forward Guidance
The Company is raising its guidance for full year 2024.
Positive Outlook
- Total written premiums placed for 2024 are expected to be between $3.70 billion and $3.82 billion, representing growth of 25% 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 $295 million and $310 million, representing growth of 13% 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.
- Well positioned for a strong finish to 2024
- Faster growth in 2025 and beyond as progress to goal of being the largest distributor of personal lines in the US.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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