Old Republic Q2 operating income up 11.6%; GAAP net income falls to $91.8 million
Old Republic International reported second-quarter 2024 results on July 25, 2024. Pretax income excluding investment gains and losses rose 11.6% to $253.8 million, and diluted earnings per share excluding investment gains rose 22.6% to $0.76. Net income fell to $91.8 million from $155.5 million because of $140.5 million in pretax investment losses, so reported results declined even as operating results improved.
Key points
- Pretax income excluding investment gains (losses) was $253.8 million, up from $227.3 million a year earlier.
- Net income was $91.8 million, down from $155.5 million; pretax investment losses were $140.5 million in the quarter.
- Diluted net income per share was $0.35, down from $0.54; excluding investment gains and losses it was $0.76, up from $0.62.
- The company returned $479 million to shareholders in the quarter, including $410 million in share repurchases; book value per share was $23.59.
The filing
Written by AI on Nov 8, 2026, 1:17 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 25, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.