SiriusPoint (SPNT) Q4 FY2023 earnings: revenue $582 million, down 13.6% on the year

SiriusPoint Ltd. (SPNT) reported revenue of $582 million for Q4 FY2023, the quarter ended 31 December 2023, down 13.6% on the same quarter a year earlier. Net income was $80 million, and diluted earnings per share $0.50. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.

Revenue$582 milliondown 13.6%

Net income$80 million

Diluted EPS$0.50

QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Revenue	582	703	n/a	n/a
Operating income	-20.3	79.1	n/a	n/a
Operating margin	-3.5%	11.3%	n/a
Interest expense	21.8	19.8	n/a	n/a
Pre-tax income	-20.3	79.1	n/a	n/a
Income tax	-103	15.3	n/a	n/a
Effective tax rate	n/a	19.3%	n/a
Net income	80.4	61.5	n/a	n/a
Net margin	13.8%	8.8%	n/a
Diluted EPS	$0.50	$0.32	n/a	n/a

$ million except per share.

Fourth 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

Line	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Operating cash flow	213	162	n/a	n/a
Cash from investing	63.1	-97.8	n/a	n/a
Cash from financing	13.6	-24.0	n/a	n/a
Share-based compensation	5.7	4.9	n/a	n/a
Buybacks	0.0	0.0	n/a	n/a
Dividends paid	0.0	0.0	n/a	n/a
Diluted shares, weighted	n/a	169m	n/a	n/a
Shares outstanding at period end	168m	165m	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	Q4 FY2023	Q3 FY2023	A year earlier	Change on the year
Shareholders' equity	2,514	2,250	n/a	n/a
Non-controlling interest	16.7	15.4	n/a	n/a
Debt	786	764	n/a	n/a
Other liabilities	9,555	9,562	n/a	n/a
Total liabilities and equity	12,872	12,591	n/a	n/a
Intangible assets	153	156	n/a	n/a
Securities held for sale or to maturity	4,755	4,423	n/a	n/a
Cash and equivalents	969	704	n/a	n/a
Other assets	6,994	7,309	n/a	n/a
Total assets	12,872	12,591	n/a	n/a

Questions

What was SiriusPoint's revenue in Q4 FY2023?

SiriusPoint (SPNT) reported revenue of $582 million for Q4 FY2023, the quarter ended 31 December 2023, down 13.6% on the same quarter a year earlier.

How much did SiriusPoint earn in Q4 FY2023?

Net income for Q4 FY2023 was $80 million, and diluted earnings per share $0.50.

When did SiriusPoint report Q4 FY2023 results?

SiriusPoint filed its 10-K for the year that ended with the quarter on 29 February 2024; the fourth quarter is the year less the first three.

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	703	582	686	743	562	613	727	748	756	974	775	744
Operating income	79.1	-20.3	106	129	11.1	-12.6	75.3	74.9	111	280	122	84.3
Operating margin	11%	-3%	15%	17%	2%	-2%	10%	10%	15%	29%	16%	11%
Interest expense	19.8	21.8	20.5	15.7	13.8	19.6	18.1	21.1	21.0	19.5	16.8	18.7
Pre-tax income	79.1	-20.3	106	129	11.1	-12.6	75.3	74.9	111	280	122	84.3
Tax rate	19%	n/a	9%	11%	22%	n/a	18%	15%	18%	13%	16%	19%
Net income	61.5	80.4	94.8	114	8.5	-17.3	61.6	63.2	90.8	244	102	68.6
Net margin	9%	14%	14%	15%	2%	-3%	8%	8%	12%	25%	13%	9%
Diluted EPS	$0.32	$0.50	$0.49	$0.57	$0.03	-$0.13	$0.49	$0.50	$0.73	$1.97	$0.82	$0.58
Operating cash flow	162	213	55.8	-147	58.1	108	-88.9	62.1	156	-26.4	142	-5.2
Buybacks	0.0	0.0	0.0	0.0	130	170	491	0.0	0.0	0.0	21.9	51.4
Dividends paid	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0	0.0
Shares outstanding	165m	168m	170m	171m	162m	116m	116m	117m	117m	117m	116m	116m
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.

* 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 diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. 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 29 February 2024, accession 0001576018-24-000018: the filing on EDGAR. All of SiriusPoint Ltd.'s filings: EDGAR company page.

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