Universal Insurance Holdings, Inc. (UVE) Earnings
Universal Insurance Holdings, Inc. is expected to report next earnings on July 23, 2026 (in NaN days), with a consensus EPS estimate of $1.43. UVE has beaten EPS estimates in 12 of its last 12 reported quarters (average surprise +36.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 24, 2026 | $1.39 | $2.00 | +43.9% | $507M | +5.3% |
| Feb 25, 2026 | $1.30 | $2.17 | +66.9% | $408M | +10.2% |
| Oct 23, 2025 | $1.10 | $1.36 | +23.6% | $401M | +7.5% |
| Jul 24, 2025 | $1.09 | $1.23 | +12.8% | $400M | +9.9% |
| Apr 24, 2025 | $1.12 | $1.44 | +28.6% | $395M | +11.2% |
| Oct 24, 2024 | $-1.03 | $-0.73 | +29.1% | $388M | +10.8% |
| Jul 25, 2024 | $1.02 | $1.18 | +15.7% | $380M | +11.8% |
| Apr 25, 2024 | $1.05 | $1.07 | +1.9% | $368M | +9.1% |
| Feb 22, 2024 | $0.23 | $0.43 | +87.0% | $375M | +14.4% |
| Oct 26, 2023 | $-0.28 | $-0.16 | +42.9% | $360M | +11.6% |
| Jul 27, 2023 | $0.77 | $0.87 | +13.0% | $340M | +14.5% |
| Apr 27, 2023 | $0.74 | $0.79 | +6.8% | $317M | +4.3% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 24, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Had a fantastic start to the year with a 38.5% annualized adjusted return on common equity. - Completed the 2026 - 2027 reinsurance renewal for insurance entities and secured $352 million of additional multi - year coverage through 2027 - 2028 treaty period. - Repurchased approximately 210,000 shares at an aggregate cost of $7.1 million during the first quarter. - Board of Directors declared a quarterly cash dividend of $0.16 per share of common stock payable on May 15, 2026.
Segment performance
Core revenue was $398.2 million, up 0.8% year - over - year, primarily from higher net investment income and net premiums earned. Direct premiums written were $506.5 million, up 8.5% from the prior year quarter, with 4.9% growth in Florida and 18.3% growth in other states. Adjusted diluted earnings per common share was $2 compared to $1.44 in the prior year quarter. The net combined ratio was 89.7%, down 5.3 points from the prior year quarter. The net loss ratio was 63.9%, down 6.6 points, and the net expense ratio was 25.8%, up 1.3 points. Direct premiums earned were $531.4 million, up 3.5% year - over - year, and net premiums earned were $356.9 million, up 0.3% year - over - year.
Analyst Q&A
Q: Congratulations on the quarter. Maybe we could just start off with some thoughts or color on the competitive environment, both in Florida and outside of Florida. It gets lots of investor questions about whether or not we're seeing a change in the number of folks who are competing in those markets. maybe the speed at which obviously the ROEs that you and others are reporting are so huge, whether or not that will attract a lot of new competitors.
A: You know, I think from a competitive perspective, we analyze our rates and are chasing rate adequacy more than we are chasing business. From a competitive perspective, we feel good about where we stand. And obviously from the quarter, you know, we can bring on business when we want to and we see the markets profitably. So, you know, that's probably the answer I would give you. There is competition everywhere, but we feel good about our position and our relationship with our agents has never been stronger.
Q: Should we expect further price adjustments and rate adjustments for you folks in the future?
A: We haven't kicked off our rate analysis at this point, so as we get ready to do that, we will analyze the past 12 months and see how that impacts. I think as we continue to benefit from the legislative environment and our business, we will do the right thing by our shareholders and our partners. We'll take that all into account and continue to do the right thing.
Q: Maybe some thoughts on capital management. Obviously, given where the returns on accumulating some excess capital, you know, how do you balance the various uses of capital today? And should we expect further lease purchases as a focus or not? Or just maybe you can just kind of prioritize how you think about that.
A: This is Frank. I think we're going to stay the course. Our number one priority with capital has always been to support the insurance entities, ensuring that they are adequately capitalized so that we can continue to produce the business that benefits the entire holding company system. That combined with continuing to return shareholder value.
Q: Could we just start, I was wondering if there's any additional details or commentary you could provide around the outcome of your reinsurance renewal?
A: You know, I think from the reinsurance perspective, you know, we are very excited to be done and have it fully secured for 2026 - 27. We were quite happy that we also extended our multi - year agreements. You know, from a pricing perspective, we're going to sit on that until we get to May and release all the details as normal. We think it'd be premature for us to kind of make public comments relative to how we did, but we were very pleased with the market and very pleased with our partners for many, many years and how they treated us relative to this year.
Q: I know we'll see more details in May, but I mean, is there anything you could comment on how we should think about the retention. Is it fair to assume it would be similar on a gap basis, you know, versus the prior year, and it would include some captive usage? I get obviously you'll have the opportunity to maybe buy down, you know, but as it stands today, is that a fair assumption?
A: The retentions will remain the same for the insurance entities, $45 million. We plan to continue to use the captive in the same manner for the $66 million layer above $45 million for the first event. So structurally identical to last year.