Shares of Old Republic International ( ORI ) plunged over 10% on Thursday as investors digested disappointing earnings, and this drop erased most of the gains shares had generated over the past year, leaving them up just 6%. I lastOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analys ...

Shares of Old Republic International ( ORI ) plunged over 10% on Thursday as investors digested disappointing earnings, and this drop erased most of the gains shares had generated over the past year, leaving them up just 6%. I lastOver fifteen years of experience making contrarian bets based on my macro view and stock-specific turnaround stories to garner outsized returns with a favorable risk/reward profile. If you want me to cover a specific stock or have a question for an article, just let me know!Analys ...

Core Insights - Old Republic International (ORI) reported a revenue of $2.36 billion for the quarter ended December 2025, marking a year-over-year increase of 9.5% and exceeding the Zacks Consensus Estimate of $2.31 billion by 2.1% [1] - The company's EPS for the same period was $0.74, down from $0.90 a year ago, resulting in an EPS surprise of -16.85% compared to the consensus estimate of $0.89 [1] Financial Performance Metrics - The Specialty Insurance Segment reported a loss ratio of 67.6%, higher than the average estimate of 63.3% [4] - The Specialty Insurance Segment's expense ratio was 29.7%, slightly above the estimated 29.5% [4] - The Title Insurance Segment had a combined ratio of 94%, better than the average estimate of 96.5% [4] - The Title Insurance Segment's loss ratio was 0.7%, significantly lower than the average estimate of 1.5% [4] - The Title Insurance Segment's expense ratio was 93.3%, below the estimated 95% [4] Revenue Breakdown - Operating revenue for the Specialty Insurance Segment showed net premiums earned of $1.34 billion, slightly below the average estimate of $1.35 billion, with a year-over-year change of +8.1% [4] - The net investment income for the Specialty Insurance Segment was $157 million, exceeding the estimate of $154.08 million, representing a +10.2% change year-over-year [4] - Operating revenue for Corporate & Other was $11.2 million, above the estimate of $10.65 million, but this reflects a -21.7% change compared to the year-ago quarter [4] - The Title Insurance Segment's net premiums earned were $718.1 million, below the average estimate of $733.34 million, with a year-over-year change of +2.4% [4] - The net investment income for the Title Insurance Segment was $17.9 million, slightly above the estimate of $17.39 million, showing an +11.9% change year-over-year [4] - Other income for the Specialty Insurance Segment was reported at $47.2 million, exceeding the average estimate of $45.81 million, with a year-over-year change of +6.3% [4] Stock Performance - Shares of Old Republic have returned -7.5% over the past month, contrasting with the Zacks S&P 500 composite's +0.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

分组1 - Old Republic International reported quarterly earnings of $0.74 per share, missing the Zacks Consensus Estimate of $0.89 per share, and down from $0.90 per share a year ago, representing an earnings surprise of -16.85% [1] - The company posted revenues of $2.36 billion for the quarter ended December 2025, surpassing the Zacks Consensus Estimate by 2.10%, and up from $2.16 billion year-over-year [2] - Old Republic has surpassed consensus EPS estimates three times over the last four quarters and topped consensus revenue estimates four times in the same period [2] 分组2 - The stock has lost about 5.5% since the beginning of the year, while the S&P 500 has gained 0.4% [3] - The current consensus EPS estimate for the coming quarter is $0.86 on revenues of $2.24 billion, and for the current fiscal year, it is $3.45 on revenues of $9.53 billion [7] - The Zacks Industry Rank for Insurance - Multi line is currently in the top 33% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]

Financial Performance - Net income for Q4 2025 was $206.3 million, a significant increase from $105.1 million in Q4 2024[2] - Net income excluding investment gains (losses) for Q4 2025 was $184.7 million, down 18.6% from $227.0 million in Q4 2024[2] - Total net income attributable to shareholders for the year was $935.4 million, compared to $852.7 million in the previous year, reflecting a growth of 9.7%[10] - Total revenues for 2025 were $9.136 billion, up from $8.231 billion in 2024, marking a 10.1% increase[8] Premiums and Fees - Consolidated net premiums and fees earned reached $2.1 billion, reflecting a 9.8% increase compared to the previous year[5] - Specialty Insurance net premiums earned increased by 8.3% for the quarter and 10.9% for the full year, driven by premium rate increases and high renewal retention ratios[13] - Title Insurance net premiums and fees earned increased by 12.4% for the quarter and 9.1% for the full year, driven by lower interest rates and strong commercial business production[19] - Commercial premiums represented 29% of net premiums earned compared to 23% in the fourth quarter of the previous year[19] Investment Income - Net investment income increased by 7.9% to $183.8 million in Q4 2025 from $170.3 million in Q4 2024[8] - Net investment income for Specialty Insurance increased by 10.2% to $157.0 million in Q4 2025, driven by higher investment yields[14] - Net investment income increased primarily due to higher investment yields earned[20] Ratios and Performance Metrics - The consolidated combined ratio for Q4 2025 was 96.0%, compared to 92.7% in Q4 2024[5] - The combined ratio for Specialty Insurance was 97.3% for Q4 2025, up from 91.8% in Q4 2024, indicating increased expenses and loss ratios[13] - The loss ratio for the current year in Specialty Insurance was 69.8%, compared to 66.5% in the previous year, reflecting higher loss trends[15] - The expense ratio for Specialty Insurance was elevated at 29.7% for Q4 2025, attributed to start-up costs of new operating companies and investments in technology[17] - The loss ratio for the current year was 3.1%, with a total combined ratio of 94.0% for the fourth quarter, reflecting effective expense management[21][19] Shareholder Returns - Total capital returned to shareholders amounted to $742 million[5] - Cash dividends declared on common stock increased by 23.2% to $2.790 per share compared to $2.265 in the previous year[8] - Total capital returned to shareholders during the quarter was $742 million, including $686 million in dividends and $56 million in share repurchases[29] Assets and Capital - Total assets increased to $29.9 billion as of December 31, 2025, up from $27.8 billion in 2024[25] - The investment portfolio allocation was approximately 85% in fixed income securities and short-term investments, and 15% in equity securities[26] Operational Insights - Operating return on beginning of year equity was 14.1%[5] - Operating expenses for Corporate & Other increased by 51.1% in the fourth quarter, reflecting higher personnel costs[23] Market and Economic Factors - Old Republic's Specialty Insurance segment results are influenced by market competition, economic conditions, and claim frequency patterns[34] - The Title Insurance segment is affected by national and regional housing demand, mortgage loan availability, and employment trends[34] - Life and accident insurance earnings are impacted by employment levels, consumer spending, and changes in mortality and health trends[34] - Risks affecting the insurance business include competition, economic factors, and external events such as natural disasters[35] Forward-Looking Statements - The company does not commit to updating forward-looking statements, which may not be relied upon[36] - Historical performance indicators may not predict future results due to various influencing factors[33]

Overall Results - Old Republic International Corporation reported a net income of $206.3 million for Q4 2025, a significant increase from $105.1 million in Q4 2024 [2][3] - The net income excluding investment gains (net operating income) was $184.7 million, down 18.6% from $227.0 million in the previous year [2][3] - The combined ratio for the quarter was 96.0%, compared to 92.7% in the prior year, indicating a decline in underwriting profitability [2][3] Financial Performance - Consolidated net premiums and fees earned reached $2.1 billion, reflecting a 9.8% increase year-over-year [3][6] - Net investment income increased by 7.9% to $183.8 million, driven by higher investment yields and a larger asset base [3][11] - Total operating revenues for the quarter were $2.4 billion, up 9.5% from the previous year [6] Shareholder Returns - Total capital returned to shareholders was $742 million in Q4 2025, consisting of $686 million in dividends and $56 million in share repurchases [27] - The book value per share increased to $24.21, a 6.0% rise from $22.84 at the end of 2024 [2][27] Segment Performance - Specialty Insurance net premiums earned increased by 8.3% for Q4 and 10.9% for the full year, driven by premium rate increases and strong renewal retention [10][12] - Title Insurance segment saw net premiums and fees earned rise by 12.4% for the quarter and 9.1% for the full year, supported by lower interest rates and robust commercial business production [16][19] - Corporate & Other segment reported a decline in net premiums earned by 4.5% for Q4 and 35.6% for the full year, impacted by the sale of the RFIG Run-off business [21][22] Investment Portfolio - As of December 31, 2025, the investment portfolio was allocated approximately 85% to fixed income securities and short-term investments, and 15% to equity securities [24][25] - The investment management strategy focuses on maintaining quality investments that provide consistent income streams while minimizing exposure to high-risk assets [25]

Wall Street analysts forecast that Old Republic International (ORI) will report quarterly earnings of $0.89 per share in its upcoming release, pointing to a year-over-year decline of 1.1%. It is anticipated that revenues will amount to $2.31 billion, exhibiting an increase of 7.3% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this t ...

Core Viewpoint - Old Republic International Corporation will report its financial results for Q4 2025 on January 22, 2026, and will hold a conference call to discuss these results [1]. Group 1: Financial Reporting - The financial results for the fourth quarter of 2025 will be announced before the market opens on January 22, 2026 [1]. - A conference call to discuss the results will take place at 3:00 p.m. Eastern time on the same day [1]. - Investors can access the call live via Old Republic's website or by dialing a specific phone number with a passcode [1]. Group 2: Replay Access - A replay of the conference call will be available by dialing a designated number with the same passcode, accessible until January 29, 2026 [2]. - The replay will also be available on Old Republic's website [2]. Group 3: Company Overview - Old Republic is a leading specialty insurer with operations in property & casualty and title insurance [3]. - Founded in 1923, the company is a member of the Fortune 500 and specializes in underwriting and risk management services across the U.S. and Canada [3]. - The company’s specialized operating units provide tailored solutions, distinguishing it in the insurance market [3].

Core Viewpoint - U.S. stock futures are showing positive movement, particularly with Nasdaq 100 futures increasing by approximately 1% on Friday, while Outlook Therapeutics Inc faces significant stock decline due to FDA's response on its biologics license application [1]. Company Specifics - Outlook Therapeutics Inc (NASDAQ:OTLK) experienced a sharp decline of 60.9%, dropping to $0.62 in pre-market trading after the FDA issued a complete response letter regarding its ONS-5010/LYTENAVA application for treating wet age-related macular degeneration, indicating that the application cannot be approved in its current form [2][1]. - Intelligent Bio Solutions Inc (NASDAQ:INBS) saw a decrease of 19.2%, falling to $7.70 in pre-market trading following the announcement of a $10 million private placement priced at-the-market under Nasdaq rules [3]. - Net Lease Office Properties (NYSE:NLOP) shares dipped by 8.9% to $23.50 in pre-market trading [3]. - Progressive Corp (NYSE:PGR) tumbled by 5.8% to $214.60 in pre-market trading [3]. - Old Republic International Corp (NYSE:ORI) slipped by 4.8% to $43.42 in pre-market trading [3]. - Cango Inc – ADR (NYSE:CANG) fell by 4% to $1.44 in pre-market trading [3]. - Xeris Biopharma Holdings Inc (NASDAQ:XERS) decreased by 3.6% to $7.57 in pre-market trading after a previous gain of over 7% on Wednesday [3]. - Biohaven Ltd (NYSE:BHVN) fell by 2.6% to $11.00 in pre-market trading [3]. - RealReal Inc (NASDAQ:REAL) slipped by 2.3% to $15.41 in pre-market trading [3].

Core Insights - Old Republic International has consistently increased its dividend payouts, with a recent total of $1.16 per share over the last four fiscal quarters, marking a 9.4% increase from the previous period [2] - The company declared a special dividend of $2.50 per share, the highest in its history, to be paid on January 14, 2026 [2] - Old Republic operates as a significant commercial underwriter in the U.S. and offers various specialty insurance products, including commercial liability and aviation insurance [3] Financial Performance - In Q3 2025, Old Republic reported a net income of $279.5 million, a decrease from $338.9 million in the same quarter the previous year [5] - However, net operating income increased from $182.7 million to $196.7 million, indicating strong underlying insurance operations [5] - The company's conservative approach has led to a stock price increase of approximately 90% over the last three years, with a current price of $46.62 and a year-to-date increase of 25% [7] Market Position - Old Republic's market capitalization stands at $12 billion, with a dividend yield of 2.49% [7] - Investment firm Piper Sandler has raised its price target for the stock from $46 to $51, indicating optimism about the company's growth potential [7]