White Mountains Q2 Revenue Hits $844.6M, Book Value Up 4%
WTM sits 28% above its 52-week low of $1,648.
Summary
White Mountains reported Q2 revenue of $844.6 million, a year-over-year increase, alongside a 4% rise in book value per share to $2,258. The quarter benefited from investment gains, notably mark-to-market improvements in its MediaAlpha stake, while $191 million in share repurchases supported per-share metrics. Offsetting factors include softening property market conditions at Ark and tighter municipal bond spreads at HG Global, which pressured premium growth. This follows a Q1 net loss driven by MediaAlpha unrealized losses, making the Q2 investment rebound a notable reversal. The company holds $0.8 billion in undeployed capital, providing flexibility for further buybacks or acquisitions.
At the time of this announcement, WTM was trading at $2,112.00 on NYSE in the Finance sector, with a market capitalization of approximately $5.2B. The 52-week trading range was $1,648.00 to $2,333.00. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.