Bowhead Specialty Holdings (BOW) Q3 FY2026 earnings: revenue $172 million, up 19.3% on the year
Bowhead Specialty Holdings Inc. (BOW) reported revenue of $172 million for Q3 FY2026, the quarter ended 30 September 2026, up 19.3% on the same quarter a year earlier. Net income was $13 million, down 14.7% on the year, and diluted earnings per share $0.38. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.
Revenue
$172 million
+19.3% on the year · +4.8% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
9.3%
13.3% a year earlier
Q4 FY2024Q3 FY2026
Net income
$13 million
-14.7% on the year · -19.8% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.38
-15.6% on the year · -20.8% on the quarter
Q4 FY2024Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Gross written premiums rose 10.8%: Management attributed the increase to a growing renewal book and growth across all divisions. Premiums were $256.4 million against $231.5 million a year earlier.
Net income fell, adjusted income rose: Net income was $12.9 million, or $0.38 per diluted share, against $15.2 million a year earlier. Adjusted net income was $18.4 million, up 16.0%, or $0.54 per diluted share.
Baleen Specialty grew fastest: Baleen Specialty premiums rose 155.4% to $15.8 million, or 6.2% of the total, from $6.2 million a year earlier.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
193
93.9
115
+105.1%
+67.8%
Capital expenditure
1.3
1.4
1.3
-6.9%
0.0%
Free cash flow
191
92.5
113
+106.8%
+68.6%
Free cash flow margin
111.4%
56.5%
78.8%
Cash from investing
-84.7
-69.2
-30.2
Cash from financing
-0.0
-1.4
0.0
Depreciation and amortisation
0.8
0.7
0.5
+10.3%
+69.9%
Share-based compensation
2.9
2.9
2.0
-2.0%
+45.7%
Diluted shares, weighted
34m
34m
34m
+2.1%
+1.8%
Shares outstanding at period end
33m
33m
33m
+0.0%
+0.5%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
451
472
430
-4.5%
+4.9%
Redeemable equity
1.9
1.6
0.8
+20.5%
+135.3%
Debt
147
147
n/a
+0.1%
Other liabilities
2,262
2,061
1,664
+9.8%
+36.0%
Total liabilities and equity
2,862
2,681
2,095
+6.7%
+36.6%
Fixed assets
12.4
12.0
9.7
+4.0%
+28.3%
Securities held for sale or to maturity
1,623
1,585
1,150
+2.4%
+41.2%
Cash and equivalents
232
142
198
+63.8%
+17.4%
Other assets
995
942
737
+5.5%
+34.9%
Total assets
2,862
2,681
2,095
+6.7%
+36.6%
Questions
What was Bowhead Specialty Holdings' revenue in Q3 FY2026?
Bowhead Specialty Holdings (BOW) reported revenue of $172 million for Q3 FY2026, the quarter ended 30 September 2026, up 19.3% on the same quarter a year earlier.
How much did Bowhead Specialty Holdings earn in Q3 FY2026?
Net income for Q3 FY2026 was $13 million, down 14.7% on the year, and diluted earnings per share $0.38.
When did Bowhead Specialty Holdings report Q3 FY2026 results?
Bowhead Specialty Holdings filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 3 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 3 November 2026: the filing.