Palomar reports Q4 adjusted EPS $1.52, consensus $1.22

Reports Q4 revenue $155.757M, consensus $139.16M. Mac Armstrong, Chairmanand Chief Executive Officer, commented, “Palomar’s (PLMR) stellar 2024 was capped off by an exceptional fourth quarter. During the quarter, we generated gross written premiums growth of 23%, 39% when excluding run-off business from our results, adjusted net income growth of 48%, inclusive of $8.1 million of catastrophe losses,and, importantly, an adjusted return on equity of 23%. When looking at the full year we not only generated record gross written premiums and adjusted net income, but we grew our top and bottom-line 35% and 43%, respectively. Additionally, throughout 2024 we made significant investments across the organization that we believe will sustain our earnings base and profitable growth trajectory.”