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Porch Group (PRCH)
NASDAQ:PRCH
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Earnings Data
Report Date
Apr 01, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.06Last Year’s EPS
-0.14Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:May 17, 2021
|% Change Since: 91.42%
|Next Earnings Date:Mar 30, 2021
Earnings Call Sentiment|Neutral
The earnings call highlighted significant achievements such as record profitability, the approval of Porch Insurance Reciprocal Exchange, and successful integration of AI data models. However, these positives were balanced by challenges including a revenue decrease and impacts from severe weather events.Company Guidance
During Porch Group's Q3 2024 earnings call, the company provided an optimistic outlook for its financial performance and strategic initiatives. Key financial metrics included a record adjusted EBITDA of $17 million, positive operating cash flow of $12 million, and net income of $14 million, despite adverse weather impacts from Hurricane Beryl. The insurance segment remained robust, with a 25% year-over-year increase in premium per policy and a gross loss ratio of 57%. The company announced the approval of the Porch Insurance Reciprocal Exchange (PIRE) by the Texas Department of Insurance, which is expected to enhance margins and create predictable financial results. Porch Group guided 2024 revenue between $440 million and $455 million, with an adjusted EBITDA ranging from a $7.5 million loss to a $2.5 million profit, reflecting substantial profitability improvements. The call also highlighted the strategic shift to a reciprocal model to mitigate exposure to claim volatility and outlined plans for a robust premium growth strategy in 2025.Record Quarterly Profitability
Achieved record adjusted EBITDA of $17 million and positive operating cash flow of $12 million in Q3 2024, surpassing expectations.
Porch Insurance Reciprocal Exchange Approval
The Texas Department of Insurance approved the formation and licensing of Porch Insurance Reciprocal Exchange (PIRE), expected to result in higher margins and more predictable financial results.
AI and Home Factors Data Integration
Successfully integrated AI models into data platform and launched 3 new home factors, enhancing underwriting and pricing capabilities.
Debt Repurchase
Repurchased $43 million of unsecured debt for $20 million, reducing outstanding debt and improving financial health.
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PRCH 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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PRCH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $2.33 | $3.62 | +55.36% |
| Aug 06, 2024 | $1.73 | $1.17 | -32.37% |
| May 08, 2024 | $3.19 | $3.39 | +6.27% |
| Mar 07, 2024 | $3.11 | $3.66 | +17.68% |
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 Porch Group (PRCH) report earnings?
Porch Group (PRCH) is schdueled to report earning on Apr 01, 2025, TBA Not Confirmed.
What is Porch Group (PRCH) earnings time?
Porch Group (PRCH) earnings time is at Apr 01, 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 PRCH EPS forecast?
PRCH EPS forecast for the fiscal quarter 2024 (Q4) is 0.06.
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