Goosehead Insurance reports Q4 adjusted EPS 11c, consensus 12c

Reports Q4 revenue $57.4M, consensus $51.28M. "We finished 2022 with an exceptional fourth quarter that demonstrates the strength, consistency and resilience of our incredible company. In the quarter, revenues increased 43%, core revenues grew 49% and adjusted EBITDA increased 123% with adjusted EBITDA margin up 8 percentage points," stated Mark Jones, chairman and CEO. "Premiums were up 44% and 42% for the quarter and full year, respectively, as we saw continued benefit from auto and home rates that will likely persist well into 2023 given personal lines carrier loss experience. 2022 was a year of substantial change that positions us for our next chapter of strong revenue and earnings growth. We have strengthened management, recruiting, and operations across the organization and significantly improved the overall quality of our franchise and corporate distribution. This has driven meaningful improvement in new business productivity in the fourth quarter, particularly among our less than one-year tenured agents and franchises. We expect to achieve further productivity gains and total producer growth as we progress through 2023. I couldn’t be more excited about our positioning and runway for growth in our core operations and the increased potential for newer sources of growth as we ramp up our technology and partnership execution."