Tiptree Q4 2022 Earnings Report
Key Takeaways
Tiptree Inc. reported a revenue increase of 15.6% to $369.5 million for the quarter. Net income was $0.9 million, and adjusted net income was $14.6 million. The company completed the sale of two product tankers for $49.0 million, realizing a gain of $13.6 million.
Revenues increased by 15.6% to $369.5 million, driven by growth in Fortegra’s specialty insurance lines and the gain on sale of two product tankers.
Net income improved to $0.9 million, driven by the gain on sale of two product tankers and growth in the insurance business.
Adjusted net income decreased by 13.6% to $14.6 million, driven by declines in the mortgage business.
The company declared a dividend of $0.05 per share, an increase of 25%.
Tiptree
Tiptree
Tiptree Revenue by Segment
Forward Guidance
We see significant opportunities to grow our businesses and are confident in the long-term outlook for the company.