Filing Flows › Berkley W R (WRB) › Q1 2025
Berkley W R (WRB) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 2, 2025
Berkley W R (WRB) reported revenue of $3.5B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -3% from the quarter before. Operating margin was 15.2%, net earnings $417M (11.8% of revenue).
Berkley W R, Q1 2025: revenue $3.5B (+9% year over year), operating margin 15.2%, net earnings $417M, operating cash flow $744M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.5B | -3% | +9% |
| Operating profit | $539M | -26% | -6% |
| Net earnings | $417M | -27% | -6% |
| Operating cash flow | $744M | -8% | -0.3% |
What changed
Revenue was $3.5B in Q1 2025, up 9% year over year and down 3% from the previous quarter.
Operating profit was $0.54B, a 15.2% margin (down 2.4 points year over year). Operating profit fell $0.04B even though revenue rose $0.29B versus a year earlier, so costs grew faster than sales. Total costs grew 12% against revenue growth of 9%. Net earnings were $0.42B, down 6% year over year. The effective tax rate was 22.5%.
Operating cash flow was $0.74B (roughly flat year over year), 178% of net earnings. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items added $0.31B.
Questions
What was Berkley W R's revenue in the first quarter 2025?
Berkley W R (WRB) reported revenue of $3.5B for the first quarter 2025 (Q1 2025), +9% from a year earlier and -3% from the quarter before.
Was Berkley W R profitable in the first quarter 2025?
Operating profit was $539M (15.2% of revenue) and net earnings $417M.
Source: Berkley W R 10-Q on SEC EDGAR.