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Employers Holdings (EIG) Q4 FY2023 earnings: revenue $226 million, up 1.8% on the year

Employers Holdings, Inc. (EIG) reported revenue of $226 million for Q4 FY2023, the quarter ended 31 December 2023, up 1.8% on the same quarter a year earlier. Net income was $46 million, down 3.4% on the year, and diluted earnings per share $1.75. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2024.

Revenue$226 millionup 1.8%
Net income$46 milliondown 3.4%
Diluted EPS$1.75
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue226204n/an/a
Operating income58.217.4n/an/a
Operating margin25.8%8.6%n/a
Interest expense0.61.0n/an/a
Pre-tax income58.217.4n/an/a
Income tax12.63.4n/an/a
Effective tax rate21.6%19.5%n/a
Net income45.614.0n/an/a
Net margin20.2%6.9%n/a
Diluted EPS$1.75$0.54n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. 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. 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 and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow27.625.3n/an/a
Capital expenditure0.70.9n/an/a
Free cash flow26.924.4n/an/a
Free cash flow margin11.9%12.0%n/a
Cash from investing152106n/an/a
Cash from financing-62.3-88.3n/an/a
Depreciation and amortisation1.11.0n/an/a
Share-based compensation1.71.3n/an/a
Buybacks14.615.4n/an/a
Dividends paid7.27.3n/an/a
Dividend per sharen/a$0.28n/an/a
Diluted shares, weighted27m26mn/an/a
Shares outstanding at period end25m26mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity1,014919n/an/a
Other liabilities2,5362,608n/an/a
Total liabilities and equity3,5503,527n/an/a
Fixed assets6.57.0n/an/a
Goodwill36.236.2n/an/a
Intangible assets13.613.6n/an/a
Investments33.146.8n/an/a
Cash and equivalents226109n/an/a
Other assets3,2353,315n/an/a
Total assets3,5503,527n/an/a

Questions

What was Employers Holdings' revenue in Q4 FY2023?

Employers Holdings (EIG) reported revenue of $226 million for Q4 FY2023, the quarter ended 31 December 2023, up 1.8% on the same quarter a year earlier.

How much did Employers Holdings earn in Q4 FY2023?

Net income for Q4 FY2023 was $46 million, down 3.4% on the year, and diluted earnings per share $1.75.

When did Employers Holdings report Q4 FY2023 results?

Employers Holdings filed its 10-K for the year that ended with the quarter on 26 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024 †Q2 FY2024Q3 FY2024Q4 FY2024 * †Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue204226223217224217203246239170208220
Operating income17.458.235.340.036.734.715.937.0-11.2-29.712.834.7
Operating margin9%26%16%18%16%16%8%15%-5%-17%6%16%
Interest expense1.00.60.0n/an/an/an/an/an/an/an/an/a
Pre-tax income17.458.235.340.036.734.715.937.0-11.2-29.712.834.7
Tax rate20%22%20%21%17%18%19%20%n/an/a20%16%
Net income14.045.628.331.730.328.312.829.7-8.3-23.410.229.1
Net margin7%20%13%15%14%13%6%12%-3%-14%5%13%
Diluted EPS$0.54$1.75$1.11$1.25$1.21$1.14$0.52$1.23-$0.36-$0.93$0.52$1.59
Operating cash flow25.327.60.611.751.013.114.60.029.40.72.2-10.3
Capital expenditure0.90.71.31.00.91.70.50.90.60.20.90.6
Free cash flow24.426.9-0.710.750.111.414.1-0.928.80.51.3-10.9
Buybacks15.414.65.618.87.610.619.823.545.494.179.330.2
Dividends paid7.37.27.87.67.47.57.57.97.47.16.36.3
Shares outstanding26m25m25m25m25m25m24m24m23m20m19m18m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
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 quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS 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 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.

Source

10-K for the period ended 31 December 2023, filed 26 February 2024, accession 0001379041-24-000042: the filing on EDGAR. All of Employers Holdings, Inc.'s filings: EDGAR company page.

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