Filing Flows › Safety Insurance Group (SAFT) › Q1 2025
Safety Insurance Group (SAFT) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 9, 2025
Safety Insurance Group (SAFT) reported revenue of $301M for the first quarter 2025 (Q1 2025), +12% from a year earlier and +5% from the quarter before. Operating margin was 9.4%, net earnings $21.9M (7.3% of revenue).
Safety Insurance Group, Q1 2025: revenue $301M (+12% year over year), operating margin 9.4%, net earnings $21.9M, operating cash flow $3.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $301M | +5% | +12% |
| Operating profit | $28.2M | +179% | +10% |
| Net earnings | $21.9M | +169% | +9% |
| Operating cash flow | $3.2M | -94% | — |
| Free cash flow | $2.8M | -94% | — |
What changed
Revenue was $301.4M in Q1 2025, up 12% year over year and up 5% from the previous quarter.
Operating profit was $28.2M, a 9.4% margin (down 0.2 points year over year). Of the extra revenue versus a year earlier, 8% reached operating profit, below the 10% margin then. Total costs grew 13% against revenue growth of 12%. Net earnings were $21.9M, up 9% year over year. The effective tax rate was 22.4%.
Operating cash flow was $3.2M, 14% of net earnings. Non-cash charges added back $1.9M of depreciation and amortization and $1.4M of share-based compensation. Working capital and other items used $22.1M. Capital expenditures of $332K left free cash flow of $2.8M.
Questions
What was Safety Insurance Group's revenue in the first quarter 2025?
Safety Insurance Group (SAFT) reported revenue of $301M for the first quarter 2025 (Q1 2025), +12% from a year earlier and +5% from the quarter before.
Was Safety Insurance Group profitable in the first quarter 2025?
Operating profit was $28.2M (9.4% of revenue) and net earnings $21.9M.