Goosehead Insurance reports Q3 EPS 46c, consensus 30c

Reports Q3 revenue $71M, consensus $69.81M… Reports Total Written Premium Increased 30% to $803 million…”We had excellent third quarter results which further demonstrates the consistency and resilience of our business in the face of substantial macro challenges. For the quarter, premiums increased 30%, revenues were up 23%, core revenues grew 22%, net income grew 271%, and our adjusted EBITDA grew 104% with adjusted EBITDA margin expanding 13 percentage points,” stated Mark E. Jones, Chairman and CEO. “Our results this year are unfolding as we had planned as we have successfully implemented strategic changes to improve producer productivity and increase earnings power. The next phase of our execution will be driving accelerating new business production growth in 2024, which we expect to spring load into accelerating revenue and earnings growth in 2025. And we will be driving this improved growth on a significantly higher and further expanding profitability base. We have made tremendous progress this year investing in the quality of our people, process and technology. Our improved foundation further enhances our competitive moat and positions us well to execute on our long term objective of personal lines industry leadership”