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American Coastal Insurance (ACIC)
NASDAQ:ACIC
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Earnings Data
Report Date
Feb 19, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.16Last Year’s EPS
$0.39Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -1.28%
|Next Earnings Date:Feb 19, 2025
Earnings Call Sentiment|Positive
The call presented a mix of strong financial results and successful strategic initiatives, alongside challenges from hurricane losses and increased operating expenses. Despite these challenges, the company remains profitable and is well-positioned for future growth.Company Guidance
During the third quarter of 2024 earnings call for American Coastal Insurance Corporation (ACIC), a comprehensive update was provided, highlighting several key metrics and strategic initiatives. The company reported a total revenue of $82.1 million for the third quarter, driven by favorable reinsurance pricing and a reduction in the quota share from 40% to 20%. The underlying combined ratio remained exceptional, contributing to a strong underwriting profit. ACIC retained approximately $3.8 million in after-tax losses from Hurricanes Debby and Helene, and $16.2 million from Hurricane Milton. Despite these challenges, ACIC achieved a net income of $28.1 million, with core income increasing by $11.4 million year-over-year. The gross premium earned grew by $2.4 million to $160.2 million, while the combined ratio decreased to 57.7%, below the 65% target. The company's liquidity and capitalization were robust, with cash and investments rising by 83.1% to $571.1 million, and stockholders' equity increasing by 53.8% to $259.6 million. These metrics underscore ACIC's resilience and strategic focus on profitable growth amidst an active hurricane season.Strong Underwriting Profit
The company reported a strong underwriting profit in the third quarter, with the combined ratio at 57.7%, a decrease of 5 points from the same period last year.
Increased Revenue and Profitability
Total revenue increased significantly to $82.1 million, with net income of $28.1 million. Core income rose by $11.4 million year-over-year.
Successful Participation in Citizens Takeout
American Coastal successfully participated in its first-ever takeout from Citizens, adding policies to its condo book and launching a new apartment program.
Improved Liquidity and Capitalization
Cash and investments grew by 83.1% to $571.1 million, and stockholders' equity increased by 53.8% to $259.6 million.
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ACIC 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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ACIC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $13.30 | $12.64 | -4.96% |
| Aug 07, 2024 | $11.65 | $11.27 | -3.26% |
| May 09, 2024 | $10.91 | $12.18 | +11.64% |
| Feb 29, 2024 | $13.94 | $11.90 | -14.63% |
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 American Coastal Insurance (ACIC) report earnings?
American Coastal Insurance (ACIC) is schdueled to report earning on Feb 19, 2025, TBA Not Confirmed.
What is American Coastal Insurance (ACIC) earnings time?
American Coastal Insurance (ACIC) earnings time is at Feb 19, 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 ACIC EPS forecast?
ACIC EPS forecast for the fiscal quarter 2024 (Q4) is $0.16.
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