What is the market's earnings forecast for Slide Insurance next quarter?

Did Slide Insurance beat or miss consensus estimates last quarter?

What were the key takeaways from Slide Insurance's earnings call?

What factors drove the changes in Slide Insurance's revenue and profit?

What does Slide Insurance do and what are its main business segments?

What is Slide Insurance's latest dividend and current dividend yield?

What guidance did Slide Insurance's management provide for the next earnings period?

What is the revenue and EPS growth rate for Slide Insurance year over year?

- **Record Q4 Results**: $618M GWP (7% YoY), $170M net income (127% YoY), 57.4% ROE, and 38% combined ratio.
- **2026 Growth Targets**: $1.85-$1.95B GWP and $455-$470M net income, driven by Northeast and California expansion.
- **Share Buybacks**: $20M repurchased in Q4; CEO expects continued repurchases at undervalued levels.
- **Reinsurance Outlook**: 2026 guidance assumes lower costs, with ILS bond reflecting 20% rate decline.
- **Strategic Expansion**: Launching New York, New Jersey, Rhode Island, and California E&S in 2026.

**【CEO Summary Section】**
- **Q4 2025 Performance**: Gross premiums written reached $618 million (7% YoY growth), net income doubled to $170 million, and ROE was 16.4% for the quarter, 57.4% for the year. Combined ratio improved to 38% vs. 60.9% YoY.
- **Growth Drivers**: 152,000 policies assumed from Citizens, strong voluntary sales, and 44% YoY increase in policies in force to 493,500.
- **2026 Outlook**: Target gross premiums of $1.85-$1.95 billion and net income of $455-$470 million, driven by expansion into New York, New Jersey, Rhode Island, and California's E&S market.
- **Share Repurchases**: $20 million repurchased in Q4, with $80 million remaining under a $120 million program. CEO emphasized undervaluation at 2x book value and sub-5 P/E ratio.

**【CFO Financial Commentary】**
- **Q4 Financials**: Total revenue $347 million (46% YoY growth), net losses of $27.1 million (no cat events), policy acquisition expenses $42.3 million (45% YoY increase). 
- **Balance Sheet**: $1.2 billion cash, $2.9 billion assets, 2.9% debt-to-capital ratio. 2026 guidance includes $1.85-$1.95 billion GWP and $455-$470 million net income.
- **Reinsurance**: 2026 guidance assumes lower reinsurance costs, with a $320 million ILS bond placed at 20% risk-adjusted rate decline.

**【Q&A Key Highlights】**
- **Citizens Depopulation**: 8,000 policies/month added by Citizens, but fewer viable for Slide in 2026. Opportunities remain limited but ongoing.
- **Reinsurance Pricing**: 2026 reinsurance submission underway; guidance assumes cost reduction, but magnitude uncertain. ILS bond reflects 20% rate decline.
- **Competitive Environment**: Florida pricing stable, new entrants constrained by capital. Diversification outside Florida key to margin maintenance.
- **California E&S**: Launching in 30-60 days; potential to exceed internal growth targets due to admitted market crisis.
- **Regulatory Risks**: New York profitability caps could harm coastal markets, similar to California's admitted market challenges.

Slide Insurance Holdings, Inc. (SLDE) Q4 2025 Earnings Call Transcript

- **Q3 Record Performance**: $463M gross premiums (+33.8%), $111M net income (+6x), 48.5% combined ratio.
- **Citizens Takeouts Lead Growth**: 60,186 policies in October, largest in Florida; Q4 takeouts expected to accelerate.
- **Expansion Ambition**: 2026 product launches in NY, NJ, CA; commercial residential premiums driving margin.
- **Shareholder Returns**: $120M buyback authorization; 1.4M shares repurchased at $14.22 avg price.
- **Financial Fortitude**: $861M cash, 1:1 net premium to capital ratio; conservative reserving with $33.5M PYD release.


**【CEO Summary Section】**
- **Record Q3 Growth**: Gross premiums up 33.8% YoY to $463M; net income surges 6x to $111M. Combined ratio improves to 48.5% (vs. 94.3% prior year). 
- **Citizens Takeouts Dominant**: Assumed 60,186 policies in October, largest in Florida market. Q4 takeouts expected to be material.
- **Expansion Strategy**: 
  - New state entries (SC, NY, NJ, CA) with 2026 product launches pending regulatory approvals.
  - Commercial residential premiums up meaningfully, driving higher average premium.
- **Balance Sheet Strength**: 
  - $861M cash, 1:1 net premium to capital ratio.
  - $120M share buyback authorization (>$55M remaining).
- **Governance Enhancements**: 
  - New exec roles (CRO, COO, CRO) to support growth.
  - Independent compensation consulting engagement.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: 
  - Total revenue $265.7M (+33% YoY).
  - Losses & LAE $33.2M (13.7% loss ratio vs. 60.4% prior year).
- **Expense Management**: 
  - Policy acquisition costs $36.4M (+65% YoY) due to growth.
  - G&A $45M (+18% YoY) for staffing expansion.
- **Reserve Discipline**: 
  - Conservative approach with $33.5M favorable PYD.
  - 48.5% combined ratio reflects reduced cat losses, reserve releases.

**【Q&A Highlights】**
- **Buyback Strategy**: Aggressively repurchasing shares if undervalued, with ample capital for growth.
- **Florida Market Dynamics**: 
  - No meaningful national carrier competition.
  - Voluntary production at record levels despite Citizens focus.
- **Rate Environment**: 
  - Steady rate decreases over 2 years; no immediate plans for further cuts.
  - 5% TIV inflation guard at renewal.
- **Reserve Confidence**: 
  - Seasoned reserves show conservatism; $30M+ pre-tax releases in Q3.
  - Benign 2025 hurricane season aids attritional loss trends.


Actual	0.56	0.79	1.23
Forecast	0.438	0.534	0.8782
Surprise	+27.85%	+47.94%	+40.06%

Actual	435.38M	463.00M	618.49M
Forecast	262.23M	448.80M	504.46M
Surprise	+66.03%	+3.16%	+22.61%

SLDE

SLDE fundamentals

SLDE Q4 2025 Earnings

Earnings Call

You can ask Aime

SLDE

SLDE fundamentals

SLDE Q4 2025 Earnings

Earnings Call

SLDE Earnings Call Summary for Q4/20258:30 AM on Feb 25, 2026

SLDE Earnings Call Summary for Q3/20255:00 PM on Nov 5, 2025

SLDE Earnings Call Summary for Q2/20255:00 PM on Aug 12, 2025

You can ask Aime