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Donegal Group (DGICA)
NASDAQ:DGICA
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.31Last Year’s EPS
-$0.11Same Quarter Last Year
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 8.25%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment due to record earnings, significant improvement in combined and core loss ratios, and successful expense reduction initiatives. However, challenges remain with weather-related losses and specific reserve developments.Company Guidance
During the third quarter of 2024, Donegal Group reported net income of $16.8 million, or $0.51 per Class A share, despite facing $6 million in pretax catastrophe losses from Hurricane Helene. Net premiums earned increased by 6% to $238 million, with a combined ratio of 96.4% compared to 104.5% in the previous year, primarily due to improved claim frequency and severity. The core loss ratio decreased by 6.6 percentage points, and weather-related losses were $24.4 million, slightly lower than the prior year's $25.7 million. Commercial lines saw a 6.4% increase in net premiums written, and the statutory combined ratio for commercial lines improved to 89.8%. In personal lines, net premiums written grew by 5.4%, with a combined ratio improvement to 104.7% from 119.4%. The company continued its strategic non-renewals in certain states and implemented various underwriting and expense reduction strategies, contributing to these favorable results.Record Quarterly Earnings
Achieved net income of $16.8 million or $0.51 per Class A share, the highest since 2020, despite $6 million pretax losses from Hurricane Helene.
Improvement in Combined Ratio
Combined ratio improved to 96.4% from 104.5% in the prior year quarter, driven by a 6.6 percentage points decline in the core loss ratio.
Commercial Lines Growth
Net premiums written in commercial lines increased by 6.4%, driven by new business in targeted geographies, strong rate, and retention.
Expense Reduction Success
Operating at a year-to-date expense ratio of 34%, down from 34.9% in the prior year, despite peak expense impact of systems modernization project.
Net Investment Income Increase
Net investment income increased by 2.8% to $10.8 million, with an average yield improvement to 3.28% from 3.22%.
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DGICA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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DGICA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $14.37 | $15.61 | +8.63% |
| Jul 25, 2024 | $13.71 | $14.48 | +5.62% |
| Apr 25, 2024 | $13.50 | $13.36 | -1.04% |
| Feb 22, 2024 | $13.95 | $13.90 | -0.36% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Donegal Group (DGICA) report earnings?
Donegal Group (DGICA) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Donegal Group (DGICA) earnings time?
Donegal Group (DGICA) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is DGICA EPS forecast?
DGICA EPS forecast for the fiscal quarter 2024 (Q4) is $0.31.
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