Goosehead Insurance reports Q4 adjusted EPS 28c, consensus 33c

Reports Q4 revenue $63.01M, consensus $68.27M. “We had a tremendous 2023 with premium growth of 34%, total revenue growth of 25%, Core revenue growth of 24%, and EBITDA growth of 90% with margin expansion of 900 basis points to 27%,” stated Mark Jones, chairman and CEO. “Our overall results this year unfolded according to plan as we have successfully implemented strategic changes to improve productivity and increase earnings power. The results of our Corporate sales leadership reorganization in late 2022, followed by consolidating Franchise leadership with Corporate in Q4 2023 drove very large productivity gains. The next phase of our execution will be driving accelerating new business production growth in 2024, particularly in our Franchise network and adding meaningfully to our overall productive capacity which should spring load into accelerating revenue and earnings growth in 2025 and beyond. We will be driving this improved growth on a significantly higher and expanding profitability base, further enhancing our competitive moat and positioning us well to execute on our long term objective of personal lines industry leadership.”