TWFG projects Q4 2024 organic growth of 20.2% to 20.8%
By Mia MacGregor
March 3 - (The Insurer) - Publicly listed brokerage TWFG expects Q4 2024 revenue to range between $49 million and $51 million, an increase of 23.8% to 28.9% compared to Q4 2023, with organic growth between 20.2% and 20.8%.
TWFG expects full-year revenue to be between $201 million and $203 million, marking a 16.5% to 18.2% increase from the previous year, according to its preliminary unaudited financial results.
It anticipates a full-year 2024 organic revenue growth rate between 14% and 15%.
The preliminary figures were released after markets closed on Friday. Nasdaq-listed TWFG's share price closed up 6% on Monday at $32.04.
Texas-based TWFG went public on July 17 last year at $17 a share, raising gross proceeds of $187.0 million.
TWFG noted that its final Q4 and full-year 2024 results may vary due to the completion of closing procedures, final adjustments and any new developments that may arise.
The brokerage also projects Q4 written premium to be $361 million, up 20% from Q4 2023, with full-year 2024 written premium expected to reach approximately $1.5 billion, an 18% increase from the prior year.
The company stated that it is currently finalizing its fourth quarter and full-year 2024 results and plans to release the official earnings report in mid-March.
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