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Jun 30, 2021
Tiptree Q2 2021 Earnings Report
Reported an increase in revenues and net income compared to the same quarter last year, driven by growth in insurance and mortgage operations.
Key Takeaways
Tiptree Inc. reported a strong second quarter with a 50.4% increase in revenues and an increase in net income. The insurance and mortgage operations were key drivers of this growth. The company is optimistic about its position for the second half of 2021.
Revenues increased by 50.4% compared to the second quarter of 2020, reaching $299.7 million.
Net income for the quarter was $8.0 million, up from $3.8 million in the previous year.
Adjusted net income increased by 24.7% to $13.1 million for the quarter.
Book value per share increased by 17.9% from the prior year, reaching $11.59 as of June 30, 2021.
Forward Guidance
Tiptree believes it is well-positioned for the second half of 2021, with positive trends in insurance, mortgage, and shipping businesses.
Positive Outlook
- Fortegra had an extremely strong first half with premium and equivalents growth of 51% while maintaining best-in-class profitability.
- Mortgage business had another excellent quarter as the rate environment and home price appreciation continue to be tailwinds.
- Shipping business also showed positive results for the quarter based on persistent favorable market conditions, particularly in the dry-bulk sector.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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