Filing Flows › Bowhead Specialty Holdings (BOW) › Q1 2026
Bowhead Specialty Holdings (BOW) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
Bowhead Specialty Holdings (BOW) reported revenue of $156M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before. Operating margin was 13.2%, net earnings $16.0M (10.3% of revenue).
Bowhead Specialty Holdings, Q1 2026: revenue $156M (+27% year over year), operating margin 13.2%, net earnings $16.0M, operating cash flow $65.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $156M | +3% | +27% |
| Operating profit | $20.6M | +16% | +42% |
| Net earnings | $16.0M | +8% | +40% |
| Operating cash flow | $65.5M | +9% | +37% |
| Free cash flow | $64.2M | +9% | +38% |
What changed
Revenue was $155.7M in Q1 2026, up 27% year over year and up 3% from the previous quarter.
Operating profit was $20.6M, a 13.2% margin (up 1.4 points year over year). Of the extra revenue versus Q1 2025, 19% reached operating profit, above the 12% margin then. Total costs grew 25% against revenue growth of 27%. Net earnings were $16.0M, up 40% year over year. The effective tax rate was 22.2%.
Operating cash flow was $65.5M (up 37% year over year), 409% of net earnings. Non-cash charges added back $617K of depreciation and amortization and $2.4M of share-based compensation. Working capital and other items added $46.5M. Capital expenditures of $1.3M left free cash flow of $64.2M.
Questions
What was Bowhead Specialty Holdings' revenue in the first quarter 2026?
Bowhead Specialty Holdings (BOW) reported revenue of $156M for the first quarter 2026 (Q1 2026), +27% from a year earlier and +3% from the quarter before.
Was Bowhead Specialty Holdings profitable in the first quarter 2026?
Operating profit was $20.6M (13.2% of revenue) and net earnings $16.0M.