Tiptree Q3 2020 Earnings Report
Key Takeaways
Tiptree Inc. reported a strong Q3 2020 with revenues up 18.4% year-over-year to $224.0 million and operating EBITDA increasing by 84.4% to $31.9 million. Net income attributable to common stockholders was $12.8 million, a significant increase from the prior year. Book value per share stood at $10.36 as of September 30, 2020.
Revenues for the quarter increased by 18.4% to $224.0 million compared to the prior year period.
Operating EBITDA rose by 84.4% to $31.9 million, driven by growth in insurance premiums and mortgage volumes.
Net income attributable to common stockholders was $12.8 million, a $14.3 million increase over the prior year.
Book value per share was $10.36 as of September 30, 2020, a 4.3% increase from the prior quarter.
Tiptree
Tiptree
Forward Guidance
The release contains forward-looking statements that involve risks, uncertainties, and contingencies, many of which are beyond the Company’s control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements.