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Definity Financial Corp. (TSE:DFY)
TSX:DFY
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Earnings Data
Report Date
Feb 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.88Last Year’s EPS
0.86Same Quarter Last Year
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 12, 2022
|% Change Since: -1.55%
|Next Earnings Date:Feb 10, 2022
Earnings Call Sentiment|Neutral
The earnings call reflects a resilient performance with strong growth in premiums and investment income, despite significant challenges from natural catastrophes impacting underwriting results. The company showed robust book value growth and maintained a positive outlook on achieving future financial targets.Company Guidance
During the Definity Financial Corporation Q3 2024 earnings call, the company provided guidance on several financial metrics, highlighting a 17-point impact on the combined ratio due to significant catastrophe events, which was above expectations. Despite this, the company achieved an operating net income of $14.6 million or $0.13 per share, with underlying gross written premiums increasing by 12.2% and reported growth of 9.9%. The operating return on equity (ROE) was 10.7%, with robust book value growth per share of 17.9% from a year ago. The company expects firm market conditions in auto and commercial insurance to persist, with a focus on expense optimization and claims transformation to enhance ROE towards a mid-teen level over the next few years. Additionally, the company anticipates managing $1.5 billion in premiums via its broker platform, targeting $75 million in operating income for 2024 before financial considerations.Solid Underlying Performance Despite Catastrophes
Operating net income of $14.6 million or $0.13 per share was achieved despite a 17-point impact on the combined ratio from natural disasters.
Strong Growth in Gross Written Premiums
Underlying gross written premiums increased by 12.2%, with reported growth at 9.9% despite the exit of Sonnet Alberta personal auto business.
Robust Book Value Growth
Book value per share grew by 17.9% from one year ago, supported by an operating ROE of 10.7%.
Personal Auto Growth
Adjusted growth in Personal Auto gross written premiums was 15.8% in Q3 2024.
Commercial Lines Growth
Commercial lines saw gross written premiums up 12.6% year-over-year, supported by strategic segment growth and strong market conditions.
Investment Income Increase
Net investment income increased by $2.7 million from Q3 2023 due to higher interest income.
Distribution Income on Target
Distribution income of $15.8 million was in line with expectations, supporting the full-year target of $75 million.
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TSE:DFY 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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TSE:DFY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | C$55.32 | C$54.66 | -1.19% |
| Aug 01, 2024 | C$46.84 | C$49.51 | +5.70% |
| May 09, 2024 | C$46.09 | C$44.68 | -3.06% |
| Feb 15, 2024 | C$40.05 | C$41.42 | +3.42% |
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 Definity Financial Corp. (TSE:DFY) report earnings?
Definity Financial Corp. (TSE:DFY) is schdueled to report earning on Feb 13, 2025, TBA Not Confirmed.
What is Definity Financial Corp. (TSE:DFY) earnings time?
Definity Financial Corp. (TSE:DFY) earnings time is at Feb 13, 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 TSE:DFY EPS forecast?
TSE:DFY EPS forecast for the fiscal quarter 2024 (Q4) is 0.88.
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