Loading...
•
Dec 31, 2022
Goosehead Insurance Q4 2022 Earnings Report
Reported a strong fourth quarter with significant revenue and earnings growth.
Key Takeaways
Goosehead Insurance reported a 43% increase in total revenues and a 49% increase in core revenues for the fourth quarter of 2022. Net income increased by 193%, and adjusted EBITDA grew by 123%. Total written premiums placed increased by 44%.
Total revenues grew by 43% to $57.4 million.
Core revenues increased by 49%.
Net income increased by 193%, with EPS at $0.02 per share and adjusted EPS at $0.11 per share.
Total written premiums placed increased by 44% to $585 million.
Forward Guidance
The Company’s outlook for full year 2023 is as follows:
Positive Outlook
- Total written premiums placed for 2023 are expected to be between $2.83 billion and $2.96 billion, representing organic growth of 28% on the low end of the range to 34% on the high end of the range.
- Total revenues for 2023 are expected to be between $258 million and $267 million, representing organic growth of 23% on the low end of the range to 28% on the high end of the range.
- Adjusted EBITDA Margin is expected to expand for the full year 2023.
- Premiums were up 44% and 42% for the quarter and full year, respectively, as we saw continued benefit from auto and home rates that will likely persist well into 2023 given personal lines carrier loss experience.
- We expect to achieve further productivity gains and total producer growth as we progress through 2023.
Challenges Ahead
- Adjusted EBITDA margin and a reconciliation to the most comparable GAAP metric are not provided because they cannot be calculated without unreasonable efforts.
- Conditions impacting insurance carriers or other parties with which Goosehead does business
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...