Old Republic International's stock plummeted 5.02% during intraday trading on Thursday, following the release of its first-quarter 2026 financial results.

The decline appears driven by the company missing analyst expectations on key metrics. Old Republic reported adjusted earnings per share of $0.68, falling short of the $0.79 consensus estimate by 13.92%. Quarterly sales of $2.198 billion also missed the $2.268 billion estimate by 3.09%. Furthermore, the company's net operating income decreased by 15.4% year-over-year to $170.5 million, and its combined ratio—a key measure of underwriting profitability—widened by 2.9 percentage points to 96.6%.

While the company reported a 34.7% increase in net income to $330 million and 7.1% revenue growth to $2.4 billion, investors focused on the earnings and revenue misses along with the deterioration in operating income and underwriting metrics.