Filing Flows › Hamilton Insurance Group (HG) › Q1 2025
Hamilton Insurance Group (HG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Hamilton Insurance Group (HG) reported revenue of $769M for the first quarter 2025 (Q1 2025), +17% from a year earlier and +35% from the quarter before. Operating margin was 24.0%, net earnings $181M (23.6% of revenue).
Hamilton Insurance Group, Q1 2025: revenue $769M (+17% year over year), operating margin 24.0%, net earnings $181M, operating cash flow $34.9M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $769M | +35% | +17% |
| Operating profit | $184M | +141% | -34% |
| Net earnings | $181M | +144% | -35% |
| Operating cash flow | $34.9M | -88% | -78% |
What changed
Revenue was $768.8M in Q1 2025, up 17% year over year and up 35% from the previous quarter.
Operating profit was $184.5M, a 24.0% margin (down 18.2 points year over year). Operating profit fell $93.5M even though revenue rose $110.1M versus a year earlier, so costs grew faster than sales. Total costs grew 53% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+60%). Net earnings were $181.3M, down 35% year over year. The effective tax rate was 1.7%.
Operating cash flow was $34.9M (down 78% year over year), 19% of net earnings. Non-cash charges added back $4.3M of depreciation and amortization and $6.6M of share-based compensation. Working capital and other items used $157.3M.
Questions
What was Hamilton Insurance Group's revenue in the first quarter 2025?
Hamilton Insurance Group (HG) reported revenue of $769M for the first quarter 2025 (Q1 2025), +17% from a year earlier and +35% from the quarter before.
Was Hamilton Insurance Group profitable in the first quarter 2025?
Operating profit was $184M (24.0% of revenue) and net earnings $181M.