Key Highlights

  • Net income was $138.2 million, up 24.5%, and diluted EPS was $1.09, up 37.3% from $0.79.
  • Total revenue rose 35.9% to $361.1 million from $265.7 million.
  • Gross premiums written were $506.6 million, up 9.3% from $463.4 million.
  • The combined ratio was 59.3% versus 48.5% a year earlier, with $34.2 million of catastrophe losses.
  • Full-year net income guidance was raised to $500 million to $520 million from $455 million to $470 million.

Slide Insurance Earnings: Did Profit Growth Outrun the Rise in Storm Losses?

Slide Insurance (NASDAQ:SLDE) reported third-quarter 2026 results for the period ended September 30 after the close on Tuesday, October 27. Net income was $138.2 million, up 24.5%, and diluted EPS was $1.09 versus $0.79 a year earlier. The screen estimate was $0.84, which implies a 30.04% beat as screened.

Total revenue climbed 35.9% to $361.1 million from $265.7 million. The company is a residential property insurer that has been widening its geographic reach, and the release describes a book of business close to $2 billion.

Slide Insurance Combined Ratio: Why Did It Climb to 59.3%?

The combined ratio rose to 59.3% from 48.5% a year earlier, and the release attributes the increase to $34.2 million of catastrophe losses. A ratio in that range still leaves a wide underwriting margin, though the direction of travel is worth tracking.

Gross premiums written were $506.6 million, up 9.3% from $463.4 million, so revenue grew faster than written premium.

Return on equity was 11.1% for the quarter, against 12.1% a year earlier, or 44.4% annualized. The nine-month return on equity was 34.2%.

Slide Insurance Guidance: What Did the Raised Net Income Range Add?

Management raised full-year net income guidance to $500 million to $520 million from $455 million to $470 million. The new range includes up to $50 million of pre-tax losses from Hurricane Isaias in the fourth quarter, according to the release.

Gross premiums written guidance moved to $1.90 billion to $1.95 billion from $1.85 billion to $1.95 billion, lifting the bottom of the range. The company also expects full-year return on equity above 40%.

For scale, shareholders' equity was $1,302.7 million on 117,320,564 shares outstanding, which works out to roughly $11.10 per share. That book value figure is calculated here from the balance sheet, because the release does not report it.

Slide Insurance Capital Return: How Large Is the $1.50 Special Dividend?

The board declared a $0.07 quarterly dividend and a one-time special dividend of $1.50 per share. Both are payable on November 30 to holders of record on November 23.

No shares were repurchased in the quarter, and $114.1 million remains under the buyback program. Since the June 2025 IPO, the company has bought back $230.9 million of stock.

Expansion continued, with residential excess and surplus lines policies written in California, expanded homeowners solutions in South Carolina and Rhode Island, and residential business started in Texas in October.

What to Watch Next: Hurricane Isaias Losses and the Fourth-Quarter Combined Ratio

The call was scheduled for Wednesday, October 28, so management commentary beyond the release was not available when this article was prepared. The main variables now are the size of the Hurricane Isaias losses against the $50 million allowance, how the combined ratio settles after the third-quarter increase, and how quickly new states add written premium. The November 23 record date for the $1.50 special dividend is the next dated event.