10-Q · August 4, 2026
Arch delivered Q2 GAAP diluted EPS of $3.00, while net income available to common shareholders declined to $1.047B from $1.227B a year earlier and annualized ROAE fell to 18.0% from 22.9%. Underwriting results were…
Earnings analysis · 10-Q
ACGL earnings analysis
Filed November 4, 2026 · Our reading of the company's report
The latest report
Arch reported Q3 revenue of $4.014 billion and diluted EPS of $2.67, beating consensus by approximately 2.2% and 18.7%, respectively. However, revenue and EPS declined from both the prior quarter and prior-year quarter,…
Read full summary
Arch reported Q3 revenue of $4.014 billion and diluted EPS of $2.67, beating consensus by approximately 2.2% and 18.7%, respectively. However, revenue and EPS declined from both the prior quarter and prior-year quarter, signaling deteriorating earnings momentum despite the consensus beats. The company repurchased 14,833,618 shares during the quarter, while the 10-Q provided no quantitative forward guidance and disclosed no material changes to risk factors.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $2.67
What stood out
-
Revenue beat estimates but declined sequentially
Q3 revenue was $4.014 billion, down from $4.67 billion in Q2 2026 and $5.11 billion in Q3 2025. Revenue nevertheless exceeded the $3.927 billion consensus estimate by approximately 2.2%.
-
EPS beat consensus amid year-over-year decline
Diluted EPS was $2.67, above the $2.25 consensus estimate by approximately 18.7%, but below $3.00 in Q2 2026 and $3.56 in Q3 2025.
-
Significant share repurchases
Arch repurchased 14,833,618 shares during the quarter at an average price of $96.65, including 14,830,860 shares through its announced program.
-
Repurchase authorization remains available
The remaining authorization was $725.147 million at September 30, 2026, after the company increased the authorization by $3.0 billion on April 19, 2026.
-
Controls remained effective
Management concluded that disclosure controls and procedures were effective as of quarter-end, and reported no changes in internal control that materially affected or were reasonably likely to materially affect reporting.
What to watch
-
Revenue contraction
Revenue declined to $4.014 billion from $4.67 billion in Q2 2026 and $5.11 billion in Q3 2025, indicating weakening reported top-line momentum.
-
Earnings momentum weakened
Diluted EPS fell to $2.67 from $3.00 sequentially and $3.56 year over year, a decline of $0.33 and $0.89, respectively.
-
Reduced repurchase capacity
The company had $725.147 million remaining under its repurchase program at September 30, 2026, versus $2.144864 billion at July 31 and $1.925400 billion at August 31, reflecting substantial capital deployment and reduced authorization capacity.
-
No new risk-factor disclosures
The filing states there were 0 material changes to the risk factors previously disclosed in the 2025 Form 10-K; therefore, no new filing-specific risk-factor developments were identified.
Management's outlook
The 10-Q does not provide quantitative revenue or EPS guidance, and no change to prior guidance is disclosed.
Earlier filings 4
10-Q · May 5, 2026
Arch Capital Group Ltd. reported Q1 2026 results showing a mixed performance with increased EPS of $2.50, beating estimates yet experiencing a revenue shortfall at $3.99 billion, lower than the expected $4.56 billion.…
10-K · February 26, 2026
Arch Capital positions itself as a specialty-focused, cycle-aware insurer/reinsurer that leverages underwriting expertise, analytics and targeted acquisitions (notably the Aug. 1, 2024 MCE Acquisition) to grow its U.S.…
10-Q · November 7, 2024
Arch Capital reported strong Q3 results with total revenues of $4,722 million and net premiums earned of $3,970 million (Q3 2023: $3,248 million). Diluted EPS was $2.56 (Q3 2023: $1.88) and net income available to Arch…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.