What is Skyward Specialty's gross profit margin?

What guidance did Skyward Specialty's management provide for the next earnings period?

What is the market's earnings forecast for Skyward Specialty next quarter?

What were the key takeaways from Skyward Specialty's earnings call?

What does Skyward Specialty do and what are its main business segments?

What were the key takeaways from Skyward Specialty’s earnings call?

What is Skyward Specialty's latest dividend and current dividend yield?

What factors drove the changes in Skyward Specialty's revenue and profit?

- **Record Financial Performance**: $44M operating income, 89.2% combined ratio, and 52% premium growth highlight Q3 success.
- **Strategic Growth**: Agriculture and Captives divisions drove 25%+ growth, while Surety and A&H expanded 26% and 45% YoY.
- **Disciplined Underwriting**: Reduced exposure in competitive Property and Casualty lines, maintaining 89.2% combined ratio.
- **Apollo Acquisition**: 28% debt-to-capital target post-close, with specialty underwriting alignment for long-term returns.
- **Tech Differentiation**: SkyView AI platform enables superior risk analysis, supporting 19.7% ROE and 27% 9M25 premium growth.

**【CEO Opening Remarks】**
- Reported record Q3 operating income of $44 million, underwriting income of $38 million, and a combined ratio of 89.2%.
- Highlighted 52% year-over-year growth in gross written premiums, driven by the Agriculture unit and Captives division.
- Emphasized disciplined underwriting in competitive markets, reducing exposure in Global Property and Construction units.
- Announced the completion of a ground-up reserve review and the launch of a new Surety product, EndWell.

**【CFO Financial Commentary】**
- GAAP net income of $42 million, with $44 million in operating income and $1.05 EPS.
- Gross written premiums grew 52% YoY, with 4 divisions (Agriculture, Captives, A&H, Specialty Programs) exceeding 25% growth.
- Combined ratio improved to 89.2%, driven by a 0.4pt decline in loss ratio and 0.5pt decline in expense ratio.
- Investment income increased $2.7 million QoQ, with a 5.3% yield on fixed income assets.
- Completed $16.3 million of equity monetization, reinvested into fixed income securities.

**【Q&A Highlights】**
- **Capital Allocation**: CFO stated 28% debt-to-capital ratio post-Apollo acquisition, with no immediate plans for equity issuance.
- **Reserve Management**: CFO noted 73% IBNR and a 60.2% loss ratio, with ongoing severity inflation in Auto Liability.
- **Apollo Acquisition**: CEO highlighted Apollo's specialty focus and alignment with Skyward's risk-adjusted return model.
- **Segment Growth**: CEO detailed 45% A&H growth,9M25, 26% Surety growth, and 64% net written premium growth.
- **Technology**: CEO emphasized Skyward's AI-driven underwriting platform, SkyView, for competitive advantage in risk assessment.

Skyward Specialty Insurance Group, Inc. (SKWD) Q3 2025 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

SKWD

SKWD fundamentals

You can ask Aime