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Mar 31, 2023
Tiptree Q1 2023 Earnings Report
Tiptree reported mixed results with revenue growth offset by net losses, driven by insurance growth but declines in mortgage and shipping revenues.
Key Takeaways
Tiptree Inc. reported a revenue increase of 17.5% year-over-year, driven by growth in Fortegra's specialty insurance lines. However, the company experienced a net loss of $1.1 million, although adjusted net income increased by 11.9% to $17.3 million.
Revenues increased by 17.5% to $381.6 million, driven by Fortegra's specialty insurance lines.
Net loss was $1.1 million, impacted by declines in mortgage and shipping revenues.
Adjusted net income rose by 11.9% to $17.3 million, driven by improvements in insurance operations.
A dividend of $0.05 per share was declared.
Tiptree
Tiptree
Forward Guidance
No specific forward guidance was provided in the earnings report.