SHARPE
Reported results
- GAAP net earnings were $81.0 million ($0.88 per share) for Q3 2026, compared to $124.6 million ($1.35 per share) for Q3 2025.
- Non-GAAP operating earnings were $79.3 million ($0.86 per share) for Q3 2026, compared to $75.8 million ($0.82 per share) for Q3 2025.
- Underwriting income (non-GAAP) was $58.8 million on a combined ratio (non-GAAP) of 86.2% in Q3 2026, compared to $60.5 million on 85.1% in Q3 2025.
- Gross premiums written increased 2% and net investment income increased 13% to $46.7 million in Q3 2026.
- Favorable development in prior years’ loss reserves resulted in a $20.1 million net increase to underwriting income in Q3 2026.
- Book value per share increased 10% from year-end 2025 to $18.49 per share at September 30, 2026.
Notes
Prior period amounts have been recast beginning in Q4 2025 to exclude equity in earnings of unconsolidated investees and related taxes from operating earnings and operating earnings per share, resulting in consistent exclusion of unrealized changes in equity investments from operating results. The company also paid a quarterly dividend of $0.18 per share on September 15, 2026, and repurchased 103,573 shares at an average price of $60.51 per share during Q3 2026.
Price and volatility reaction
The stock moved +2.5% on the print. No front-expiry chain was on file, so there is no straddle expected move.
| Measure | Value | Basis |
|---|---|---|
| Close before release | 61.2 | 2026-10-19 |
| Close after release | 62.71 | 2026-10-20 |
| Realised move | +2.5% | close to close |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-10-19 (8-K, Item 2.02). Read the original filing on sec.gov.