White Mountains Insurance Q3 2026 EPS Tops Estimates at $38.15, but Revenue Misses at $641.1M
Revenue of $641.1M vs. $934.4M expected and adjusted EPS of $38.15 vs. $2.50; revenue down 26% from a year earlier.
White Mountains Insurance (WTM) posted mixed third-quarter 2026 results, with adjusted EPS above the estimate and revenue below it. Revenue was $641.1 million, down 26% from a year earlier, below the $934.4 million estimate, and adjusted EPS was $38.15, down 14% from a year earlier, above the $2.50 estimate.
Shares fell 3.4% in regular trading as of 11:31 a.m. ET, at $2296.50.
Q3 2026 scorecard
| Parameters | Expected | Actual | Beat/Miss |
|---|---|---|---|
| Adjusted EPS | $2.50 | $38.15 | Beat by 1426% |
| Revenue | $934.4M | $641.1M | Miss by 31% |
| Change | YoY | QoQ |
|---|---|---|
| Adjusted EPS | ▼ 14% | ▼ 53% |
| Revenue | ▼ 26% | ▼ 24% |
By our calculation, revenue was $293.3 million below the estimate and adjusted EPS was $35.65 above it. The QoQ column compares with the previous quarter's revenue of $844.6 million and adjusted EPS of $80.58. The YoY column compares with $864.2 million and $44.19 in the same quarter a year earlier.
GAAP results
- GAAP EPS. GAAP diluted EPS was -$17.71, against $44.19 a year earlier.
- Net loss. The company reported a net loss of $29.6 million on a GAAP basis, compared with net income of $113.8 million a year earlier.
Track record
- EPS record. Adjusted EPS beat the estimate in 2 of the last 8 reports, including this one.
- Revenue record. Revenue beat the estimate in 0 of the last 5 reports.
- Revenue trend. Revenue over the last 5 reports, oldest first: $864.2 million, $576.1 million, $515.4 million, $844.6 million and $641.1 million.
What to watch
- Revenue growth. Whether revenue stabilizes after this quarter's 26% decline from a year earlier to $641.1 million.
- Estimate record. Whether White Mountains Insurance returns to beating EPS estimates, which it did in 2 of its last 8 reports.
- Share reaction. How shares trade in the next regular session after the 3.4% decline during the session.
- Related coverage. See our reports on Northwestern Energy, Carlyle, Genius Sports and Seaboard.
Sources: Results are from White Mountains Insurance's Nov. 5, 2026 quarterly report. Estimates are consensus figures. The prior-quarter and year-ago comparison figures are from White Mountains Insurance's earlier quarterly reports. Items labeled by our calculation are our own arithmetic. This article is informational only and is not investment advice.
Readers also read
Northwestern Energy Q3 2026 Revenue Tops Estimates at $423.8M, but EPS Misses at $0.58
EarningsCarlyle Beats Q3 2026 Estimates as Revenue Rises 27% to $994.5M
EarningsGenius Sports Q3 2026 Revenue Tops Estimates at $269.9M, but EPS Misses at -$0.06
EarningsSeaboard Q3 2026 Revenue Rises 9.1% to $2.77B
MarketCatalyst is not a registered investment advisor and does not manage client assets. Content on this platform is provided for informational and educational purposes only. It is not investment advice, and MarketCatalyst is not a stock-picking or trade-alert service. Trading stocks and options involves risk, including the possible loss of principal. Consider your own goals, time horizon, and risk tolerance, and consult a qualified financial advisor before making any investment decision.