Verisk Analytics ( (VRSK) ) has realeased its Q3 earnings. Here is a breakdown of the information Verisk Analytics presented to its investors.
Verisk Analytics is a prominent global provider of data analytics and technology solutions, primarily serving the insurance industry. The company is renowned for its subscription-based business model, which aids clients in improving operational efficiency and managing risks related to climate change and other global issues.
In the third quarter of 2024, Verisk Analytics reported a 7.0% increase in consolidated revenues, reaching $725 million. The company also saw a significant rise in its income from continuing operations, up by 17.4% to $220 million, and achieved a 19.4% increase in its diluted GAAP earnings per share from continuing operations.
Key financial highlights include a 9.4% increase in Adjusted EBITDA to $401 million and a 22.9% rise in free cash flow to $241 million. The company also maintained strong revenue growth in its underwriting and claims sectors, with insurance revenue up by 7.0% in the third quarter. Additionally, Verisk continued its commitment to shareholder returns by paying dividends and completing a $400 million share repurchase.
Looking forward, Verisk’s management remains focused on innovation and investment within the insurance sector to enhance efficiency and profitability. The company maintains a positive financial outlook for the remainder of 2024, with expectations of continued revenue growth and shareholder returns.
