Filing Flows › Skyward Specialty Insurance Group (SKWD) › Q3 2025
Skyward Specialty Insurance Group (SKWD) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
Skyward Specialty Insurance Group (SKWD) reported revenue of $383M for the third quarter 2025 (Q3 2025), +27% from a year earlier and +20% from the quarter before. Operating margin was 15.8%, net earnings $45.9M (12.0% of revenue).
Skyward Specialty Insurance Group, Q3 2025: revenue $383M (+27% year over year), operating margin 15.8%, net earnings $45.9M, operating cash flow $171M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $383M | +20% | +27% |
| Operating profit | $60.5M | +22% | +29% |
| Net earnings | $45.9M | +18% | +25% |
| Operating cash flow | $171M | +94% | +2% |
| Free cash flow | $169M | +94% | +0.8% |
What changed
Revenue was $382.5M in Q3 2025, up 27% year over year and up 20% from the previous quarter.
Operating profit was $60.5M, a 15.8% margin (up 0.3 points year over year). Of the extra revenue versus a year earlier, 17% reached operating profit, above the 16% margin then. Total costs grew 27% against revenue growth of 27%. Net earnings were $45.9M, up 25% year over year. The effective tax rate was 24.2%.
Operating cash flow was $171.4M (up 2% year over year), 373% of net earnings. Working capital and other items added $125.5M. Capital expenditures of $2.5M left free cash flow of $168.9M.
Questions
What was Skyward Specialty Insurance Group's revenue in the third quarter 2025?
Skyward Specialty Insurance Group (SKWD) reported revenue of $383M for the third quarter 2025 (Q3 2025), +27% from a year earlier and +20% from the quarter before.
Was Skyward Specialty Insurance Group profitable in the third quarter 2025?
Operating profit was $60.5M (15.8% of revenue) and net earnings $45.9M.
Source: Skyward Specialty Insurance Group 10-Q on SEC EDGAR.