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James River Group Holdings Ltd (JRVR)
NASDAQ:JRVR
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$0.48Last Year’s EPS
$0.33Same Quarter Last Year
Moderate Buy
Based on 3 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 11, 2024
|% Change Since: -30.20%
|Next Earnings Date:Feb 20, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook. While strategic investments and growth in the E&S and Specialty Admitted segments are positive, the financial performance was heavily impacted by reserve adjustments and a net loss. The reduction in dividend and high combined ratios add to the challenges.Company Guidance
During the James River Group Q3 2024 earnings call, the company provided several key financial metrics and strategic updates. Notably, Enstar Group committed an additional $12.5 million in newly issued common equity at $6.40 per share, and Gallatin Point Capital converted $37.5 million of Series A convertible preferred shares to common equity at the same share price, which reduced the preferred dividend. The company also announced a $75 million limit top-up adverse development cover with Enstar on E&S reserves from accident years 2010 to 2023, building on a previous agreement with State National. Financially, the company reported a net loss from continuing operations of $1.07 per share and an adjusted net operating loss of $0.74 per share, with the E&S segment experiencing a combined ratio of 136.1% due to reserve adjustments. Submission growth was robust, with new submissions up 10% and renewal submissions up 12%. The E&S segment's gross premiums increased by 6%, driven by growth in Excess Casualty and manufacturers and contractors. Despite challenges, the company expressed confidence in its underwriting environment and strategic positioning for future shareholder value.Strategic Investments and Capital Strengthening
James River Group received significant investments from Enstar Group and Gallatin Point Capital, strengthening its capital base and reducing fixed charges.
E&S Segment Submission Growth
The E&S segment saw new submissions grow by 10% and renewal submissions by 12% in the third quarter.
Specialty Admitted Segment Growth
The Specialty Admitted segment posted a combined ratio of 91.3% and increased gross written premiums by 9% compared to the prior year.
No Catastrophe Losses
The company reported no net catastrophe losses in either the E&S or Specialty Admitted segments for the third quarter.
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JRVR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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JRVR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 11, 2024 | $6.60 | $4.95 | -25.00% |
| Aug 05, 2024 | $7.44 | $7.07 | -4.97% |
| May 08, 2024 | $8.38 | $7.84 | -6.44% |
| Feb 28, 2024 | $10.15 | $9.78 | -3.65% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does James River Group Holdings Ltd (JRVR) report earnings?
James River Group Holdings Ltd (JRVR) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is James River Group Holdings Ltd (JRVR) earnings time?
James River Group Holdings Ltd (JRVR) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is JRVR EPS forecast?
JRVR EPS forecast for the fiscal quarter 2024 (Q4) is -$0.48.
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