Equity Profile

WTM

White Mountains Insurance Group, Ltd.

FinancialsProperty & Casualty Insurance$5.1B

May6Wed

Post-Earnings Recap

ReportedQ1-2026Pre-Market8:00 AM EDT

White Mountains Insurance Group Misses on EPS, Stock Down 3.33%

Metric	Actual	Expected	Surprise
EPS	$-12.59	N/A	—
Revenue	—	N/A	—

management commentary, guidance changes, and full analysis available with Pro.

White Mountains Insurance Group Misses on EPS, Stock Down 3.33%

Key Numbers

Metric	Actual	Expected	Surprise
EPS	$-12.59	N/A	—
Revenue	—	N/A	—

Management Commentary

Tone: Unknown

No transcript is on record, and the analysis is based solely on numerical results.

What It Means

White Mountains Insurance Group reported a significant loss in EPS for Q1-2026, which likely contributed to the stock's decline of 3.33%. The lack of revenue figures and management commentary leaves investors with limited insights into the company's performance and future outlook. As a result, uncertainty may persist until more information is available.

Company Snapshot

White Mountains Insurance Group, Ltd. (WTM) operates in the property and casualty insurance sector, providing various insurance products and services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its business and attract new customers, crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

White Mountains Insurance Group, Ltd. (WTM) operates in the property and casualty insurance sector, providing various insurance products and services. With a market cap of $5 billion, the company plays a significant role in the financial sector, particularly as it navigates challenges and opportunities in the insurance landscape.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

+0.00%

Avg Stock Reaction

+0.28%

Last Quarter Recap

In Q4-2025, White Mountains reported an EPS of $327.23, showing strong performance compared to previous quarters. The stock reacted positively, gaining 2.75% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall expectations for WTM's upcoming earnings report are mixed, with no analyst estimates available to guide sentiment. Investors are keen to see how the company continues to perform amid market fluctuations.

Bull Case

If WTM reports strong EPS and revenue growth, it could signal robust business health, potentially leading to a positive stock reaction.

Bear Case

Conversely, any signs of declining profitability or increased losses could raise concerns about the company's future performance, leading to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q1-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact investor sentiment.

How has the combined ratio changed this quarter?

The combined ratio is essential for understanding the company's underwriting performance, and a higher ratio could indicate potential issues.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of recent regulatory changes on WTM's profitability, which could lead to better-than-expected results.

Supporting Evidence

Recent trends in the insurance market suggest improved pricing power for insurers, which could benefit WTM.

The company's historical performance shows resilience during economic downturns, which may not be fully reflected in current expectations.

Key Risk

If the EPS exceeds $350, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on profitability metrics, particularly EPS and the combined ratio, which will provide insights into the company's financial health.

Bull Confirmed If

An EPS of $350 or better would confirm the bull case, indicating strong profitability.

Bear Confirmed If

A combined ratio above 105% would confirm the bear case, suggesting underwriting losses.

Pre-Earnings Positioning

Options Market

Implied Move

±1.98%

Historical Avg

±2.1%

In line with history

The options market is pricing in a move of about 1.98%, suggesting that traders expect some volatility around the earnings report.

Options are pricing ±2.0% while WTM has averaged ±2.1% over the last 8 prints — setup is roughly in line with history.

Detail

30d HV

22.3%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If WTM beats expectations, history suggests a positive stock reaction, potentially around a 2.75% increase.

In-Line / Cautious

An in-line report with cautious management commentary may lead to a muted response, reflecting uncertainty in the market.

Miss

If WTM misses expectations, the stock could see a decline, with historical patterns indicating a potential drop of around 1.82%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the combined ratio for the quarter.
2Insights into market conditions affecting premium pricing.
3Management's outlook on future growth opportunities.
4Details on claims trends and their impact on profitability.
5Any commentary on regulatory changes and their implications.

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Company Snapshot

White Mountains Insurance Group, Ltd. (WTM) operates in the property and casualty insurance sector, providing various insurance products and services....

Key Metrics to Watch

Earnings Per Share (EPS)

EPS is a key indicator of the company's profitability and financial health, which investors closely monitor.

N/A

Revenue Growth

Revenue growth reflects the company's ability to expand its business and attract new customers, crucial for long-term success.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

Original Pre-Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

Avg EPS Surprise

+0.00%

Avg Stock Reaction

+0.28%

Last Quarter Recap

In Q4-2025, White Mountains reported an EPS of $327.23, showing strong performance compared to previous quarters. The stock reacted positively, gaining 2.75% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Bull Case

If WTM reports strong EPS and revenue growth, it could signal robust business health, potentially leading to a positive stock reaction.

Bear Case

Conversely, any signs of declining profitability or increased losses could raise concerns about the company's future performance, leading to a negative market reaction.

Expectations

Two Questions That Matter

The print will turn on these two things.

What will the EPS be for Q1-2026?

EPS is a critical measure of profitability, and any significant deviation from expectations could impact investor sentiment.

How has the combined ratio changed this quarter?

The combined ratio is essential for understanding the company's underwriting performance, and a higher ratio could indicate potential issues.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the impact of recent regulatory changes on WTM's profitability, which could lead to better-than-expected results.

Supporting Evidence

Recent trends in the insurance market suggest improved pricing power for insurers, which could benefit WTM.

The company's historical performance shows resilience during economic downturns, which may not be fully reflected in current expectations.

Key Risk

If the EPS exceeds $350, it could challenge the current bearish sentiment.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter, the focus is on profitability metrics, particularly EPS and the combined ratio, which will provide insights into the company's financial health.

Bull Confirmed If

An EPS of $350 or better would confirm the bull case, indicating strong profitability.

Bear Confirmed If

A combined ratio above 105% would confirm the bear case, suggesting underwriting losses.

Pre-Earnings Positioning

Options Market

Implied Move

±1.98%

Historical Avg

±2.1%

In line with history

The options market is pricing in a move of about 1.98%, suggesting that traders expect some volatility around the earnings report.

Options are pricing ±2.0% while WTM has averaged ±2.1% over the last 8 prints — setup is roughly in line with history.

Detail

30d HV

22.3%

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If WTM beats expectations, history suggests a positive stock reaction, potentially around a 2.75% increase.

In-Line / Cautious

An in-line report with cautious management commentary may lead to a muted response, reflecting uncertainty in the market.

Miss

If WTM misses expectations, the stock could see a decline, with historical patterns indicating a potential drop of around 1.82%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Any updates on the combined ratio for the quarter.
2Insights into market conditions affecting premium pricing.
3Management's outlook on future growth opportunities.
4Details on claims trends and their impact on profitability.
5Any commentary on regulatory changes and their implications.