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Assured Guaranty (AGO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Assured Guaranty (AGO) reported revenue of $345M for the first quarter 2025 (Q1 2025), +41% from a year earlier and +121% from the quarter before. Operating margin was 51.0%, net earnings $176M (51.0% of revenue).
Assured Guaranty, Q1 2025: revenue $345M (+41% year over year), operating margin 51.0%, net earnings $176M, operating cash flow $87.0M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $345M | +121% | +41% |
| Operating profit | $176M | 12× | +47% |
| Net earnings | $176M | +878% | +61% |
| Operating cash flow | $87.0M | +89% | — |
What changed
Revenue was $345.0M in Q1 2025, up 41% year over year and up 121% from the previous quarter.
Operating profit was $176.0M, a 51.0% margin (up 2.0 points year over year). Of the extra revenue versus a year earlier, 56% reached operating profit, above the 49% margin then. Total costs grew 35% against revenue growth of 41%. Net earnings were $176.0M, up 61% year over year. The effective tax rate was 19.2%. Non-operating items added $53.0M, 23% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $87.0M, 47% of net income including minority interests. Working capital and other items used $98.0M.
Questions
What was Assured Guaranty's revenue in the first quarter 2025?
Assured Guaranty (AGO) reported revenue of $345M for the first quarter 2025 (Q1 2025), +41% from a year earlier and +121% from the quarter before.
Was Assured Guaranty profitable in the first quarter 2025?
Operating profit was $176M (51.0% of revenue) and net earnings $176M.
Source: Assured Guaranty 10-Q on SEC EDGAR.