OLD Republic International (ORI) Q3 FY2023 earnings: revenue $1.8 billion, up 2.3% on the year

OLD Republic International Corp. (ORI) reported revenue of $1.8 billion for Q3 FY2023, the quarter ended 30 September 2023, up 2.3% on the same quarter a year earlier. Net income was $53 million, and diluted earnings per share $0.19. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2023.

Revenue$1.8 billionup 2.3%

Net income$53 million

Diluted EPS$0.19

QuarterQ3 FY2023ended 30 September 2023

The quarter, against the one before and a year earlier

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Revenue	1,760	n/a	n/a	n/a
Operating income	63.9	n/a	n/a	n/a
Operating margin	3.6%	n/a	n/a
Pre-tax income	63.9	n/a	n/a	n/a
Income tax	11.3	n/a	n/a	n/a
Effective tax rate	17.7%	n/a	n/a
Net income	52.6	n/a	n/a	n/a
Net margin	3.0%	n/a	n/a
Diluted EPS	$0.19	n/a	n/a	n/a

$ million except per share.

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

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Operating cash flow	350	n/a	n/a	n/a
Cash from investing	-110	n/a	n/a	n/a
Cash from financing	-184	n/a	n/a	n/a
Buybacks	126	n/a	n/a	n/a
Dividends paid	67.6	n/a	n/a	n/a
Dividend per share	$0.24	n/a	n/a	n/a
Diluted shares, weighted	280m	n/a	n/a	n/a
Shares outstanding at period end	280m	n/a	n/a	n/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

Line	Q3 FY2023	Quarter before	A year earlier	Change on the year
Shareholders' equity	5,916	n/a	n/a	n/a
Other liabilities	20,485	n/a	n/a	n/a
Total liabilities and equity	26,400	n/a	n/a	n/a
Securities held for sale or to maturity	11,547	n/a	n/a	n/a
Cash and equivalents	152	n/a	n/a	n/a
Other assets	14,701	n/a	n/a	n/a
Total assets	26,400	n/a	n/a	n/a

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025	Q1 FY2026	Q2 FY2026
Revenue	1,760	1,941	2,016	1,872	2,342	2,002	2,114	2,208	2,424	2,389	2,399	2,504
Operating income	63.9	238	399	113	427	131	308	260	353	263	413	410
Operating margin	4%	12%	20%	6%	18%	7%	15%	12%	15%	11%	17%	16%
Pre-tax income	63.9	237	399	113	427	131	308	260	353	263	413	410
Tax rate	18%	20%	21%	19%	21%	20%	20%	20%	21%	21%	20%	21%
Net income	52.6	191	317	91.8	339	105	245	204	280	206	330	322
Net margin	3%	10%	16%	5%	14%	5%	12%	9%	12%	9%	14%	13%
Diluted EPS	$0.19	$0.69	$1.15	$0.35	$1.32	$0.42	$0.98	$0.81	$1.11	$0.82	$1.32	$1.31
Operating cash flow	350	283	160	236	475	362	232	134	564	235	281	200
Buybacks	126	55.8	194	408	165	174	25.3	0.0	43.3	55.2	160	60.2
Dividends paid	67.6	66.9	71.5	69.1	66.4	64.9	568	73.0	70.9	70.8	694	76.6
Shares outstanding	280m	278m	272m	258m	254m	248m	247m	248m	247m	246m	243m	241m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

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-Q for the period ended 30 September 2023, filed 3 November 2023, accession 0000074260-23-000093: the filing on EDGAR. All of OLD Republic International Corp.'s filings: EDGAR company page.

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