W. R. Berkley (WRB) Q3 FY2026 earnings: revenue $3.7 billion, down 0.8% on the year

W. R. Berkley Corp. (WRB) announced its results for Q3 FY2026, the quarter ended 30 September 2026, on 19 October 2026. Revenue was $3.7 billion, down 0.8% on the same quarter a year earlier. Diluted earnings per share were $1.14. The figures are from the company's earnings press release; the 10-Q with the full statements is not filed yet, and this page fills in when it is.

Revenue$3.7 billiondown 0.8%

Net incomeNot yetwith the 10-Q

Diluted EPS$1.14$1.28 a year earlier

QuarterQ3 FY2026ended 30 September 2026

What management said

Return on equity was 18.4%: Annualized return on equity was 18.4% and operating return on equity 18.8%, compared with 24.3% and 21.0% in the third quarter of 2025.
Operating income rose per share: Operating income was $456.5 million, or $1.17 per diluted share. Net income to common stockholders was $446.0 million, or $1.14 per diluted share, against $511.0 million a year earlier.
Reported combined ratio was 90.8%: The current accident year combined ratio before catastrophe losses was 88.1%, with 2.7 loss ratio points stated for that measure. The reported combined ratio was 90.8%.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q3 FY2026	Q2 FY2026	Q3 FY2025	Change on the year
Revenue	3,739	3,716	3,768	-0.8%
Net income	n/a	452	511	n/a
Diluted EPS	$1.14	$1.15	$1.28	-10.9%

$ million except per share.

Q3 FY2026 is from the company's press release of 19 October 2026; the other columns are from its 10-Q and 10-K filings. A release figure is shown when the release's own figure for an earlier quarter matches the filed one, so the line and its units are read right; net income will come with the 10-Q.

Quarterly results, the last 20 quarters filed

	Q3 FY2021	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	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	2,424	2,578	2,915	2,513	2,724	3,014	2,895	2,996	3,031	3,221	3,257	3,314	3,400	3,668	3,547	3,671	3,768	3,721	3,690	3,716
Interest expense	35.1	37.3	35.0	31.7	31.8	31.9	31.8	31.9	31.9	31.9	31.7	31.7	31.7	31.8	31.7	31.8	31.8	31.6	31.7	31.7
Pre-tax income	332	355	732	223	286	478	376	457	420	501	574	488	474	728	539	522	648	572	616	575
Tax rate	20%	17%	19%	19%	19%	20%	21%	22%	21%	20%	23%	24%	23%	21%	23%	23%	21%	20%	16%	21%
Net income	261	294	591	179	229	382	294	356	334	397	442	372	366	576	418	401	511	450	515	452
Net margin	11%	11%	20%	7%	8%	13%	10%	12%	11%	12%	14%	11%	11%	16%	12%	11%	14%	12%	14%	12%
Diluted EPS	$0.62	$0.70	$1.41	$0.43	$0.55	$0.91	$0.71	$0.87	$0.82	$0.98	$1.09	$0.92	$0.91	$1.44	$1.04	$1.00	$1.28	$1.13	$1.31	$1.15
Operating cash flow	829	660	478	528	768	795	445	709	1,077	698	746	881	1,241	810	744	704	1,140	995	668	800
Buybacks	92.7	0.0	0.0	0.0	6.6	87.6	135	292	2.9	107	0.0	224	12.5	67.4	49.2	0.0	24.6	196	302	111
Dividends paid	135	200	23.0	0.0	159	53.0	159	28.3	0.0	315	28.2	158	126	220	30.3	224	34.2	412	33.7	0.0
Shares outstanding	397m	398m	398m	398m	399m	397m	394m	386m	387m	385m	385m	381m	381m	380m	379m	379m	380m	377m	373m	371m
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	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 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.

Earnings press release for the quarter ended 30 September 2026, filed with the SEC on 19 October 2026 with a Form 8-K: the release.