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Jun 30, 2022
Universal Insurance Q2 2022 Earnings Report
Reported a decrease in net income and an increase in direct premiums written, driven by rate increases and portfolio optimization.
Key Takeaways
Universal Insurance Holdings reported mixed results for Q2 2022. While direct premiums written increased by 12.4%, driven by growth in Florida and other states, net income decreased significantly. The company's adjusted return on equity remained strong at 12.8%.
Diluted GAAP earnings per share were $0.24, and adjusted EPS was $0.47.
Annualized return on average common equity was 7.7%, with an adjusted ROCE of 12.8%.
Direct premiums written increased by 12.4% year-over-year to $532.5 million.
The company repurchased 282,552 shares for $3.5 million and returned a total of $8.5 million to shareholders, including a $0.16 per share dividend.
Revenue by Geographic Location
Forward Guidance
The Company is maintaining its guidance for 2022 (assuming no further extraordinary weather events):
Positive Outlook
- Adjusted EPS in a range of $1.80 - $2.20
- Annualized adjusted ROCE in a range of 12.5% - 15.0%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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