Earnings Call Summary | Goosehead Insurance(GSHD.US) Q1 2024 Earnings Conference
Earnings Call Summary | Goosehead Insurance(GSHD.US) Q1 2024 Earnings Conference
The following is a summary of the Goosehead Insurance, Inc. (GSHD) Q1 2024 Earnings Call Transcript:
以下是Goosehead Insurance, Inc.（GSHD）2024年第一季度業績電話會議記錄摘要：
Financial Performance:
財務業績：
Goosehead Insurance reported a total Q1 revenue of $64.5 million, an 11% growth from the previous year.
Total written premiums grew by 28% to $819 million.
Contingent commissions increased from $1.9 million to $2.7 million.
Cost recovery revenue declined to $2.5 million from $3.5 million year-over-year.
Adjusted EBITDA grew from $10.2 million to $11.7 million, maintaining an 18% margin.
The firm expects an adjusted EBITDA margin expansion for the full year.
The company ended Q1 with $51 million in cash and cash equivalents, and $9.1 million as free cash flow.
Estimated total written premiums for 2024 are expected to be between $3.62 billion and $3.82 billion.
Goosehead Insurance報告稱，第一季度總收入爲6,450萬美元，比上年增長11％。
總書面保費增長了28％，達到8.19億美元。
特遣隊佣金從190萬美元增加到270萬美元。
成本回收收入從同比的350萬美元下降至250萬美元。
調整後的息稅折舊攤銷前利潤從1,020萬美元增長到1170萬美元，保持了18％的利潤率。
該公司預計，調整後的全年息稅折舊攤銷前利潤率將擴大。
該公司在第一季度末的現金及現金等價物爲5,100萬美元，自由現金流爲910萬美元。
據估計，2024年的總書面保費將在36.2億美元至38.2億美元之間。
Business Progress:
業務進展：
The company increased the number of franchise producers to 1,963 in Q1.
Both franchise new business premium and corporate new business saw growth of 19% and 11% respectively.
The company planned a large stock buyback and is focusing on aiding franchises to add more producers.
An expectation to end the year with at least 375 corporate agents, supported by a flourishing college recruitment program.
Guideposts for the year have been revised due to market uncertainty and potential temporary drops in retention rates.
Structural and foundational improvements have been implemented for future performance.
A $100 million share repurchase authorization was approved, along with an upsizing of the existing credit facility.
Despite legislative changes reducing real estate commissions, no negative impacts are anticipated.
Plans to add hundreds more franchise producers this year, prioritizing quality over quantity.
Despite retention issues due to increasing home premiums, especially in Texas, improvements are expected by the end of the year or by 2025.
該公司在第一季度將特許經營生產商的數量增加到1,963家。
特許經營新業務溢價和企業新業務分別增長了19％和11％。
該公司計劃進行大規模股票回購，並專注於幫助特許經營商增加更多生產商。
在蓬勃發展的大學招聘計劃的支持下，預計今年年底將有至少375名公司代理人。
由於市場的不確定性和留存率可能暫時下降，對今年的指導方針進行了修訂。
已經針對未來的績效進行了結構和基礎改進。
1億美元的股票回購授權獲得批准，同時擴大了現有信貸額度。
儘管立法變更減少了房地產佣金，但預計不會產生負面影響。
計劃今年再增加數百家特許經營生產商，將質量置於數量之上。
儘管房屋保費上漲導致留存率問題，尤其是在德克薩斯州，但預計到年底或到2025年會有所改善。
More details: Goosehead Insurance IR
更多詳情： Goosehead 保險 IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
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譯文內容由第三人軟體翻譯。