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Palomar Holdings Inc (PLMR)
NASDAQ:PLMR
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
1.23Last Year’s EPS
1.11Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Aug 12, 2019
|% Change Since: 24.75%
|Next Earnings Date:May 16, 2019
Earnings Call Sentiment|Positive
The earnings call presented strong financial performance with significant growth in adjusted net income and gross written premiums. Key segments like Earthquake and Crop experienced remarkable growth, supported by strategic initiatives and investments. However, the company faced challenges from catastrophe losses and a decline in the Fronting business. Overall, the positive highlights outweigh the lowlights, indicating successful execution of growth strategies despite some market challenges.Company Guidance
During the Palomar Holdings Q3 2024 earnings call, the company provided guidance that demonstrated significant financial growth, despite adverse conditions. Palomar reported a 39% increase in adjusted net income to $32.4 million, with an adjusted combined ratio of 77.1% and a return on equity (ROE) of 21%. The company's gross written premiums rose by 32% to $415 million, with particularly strong growth in the Earthquake and Casualty segments, up 19% and 91% respectively. Palomar's Crop business also showed robust expansion, writing over $100 million in premiums year-to-date. The company raised $160 million in a primary equity issuance, earmarking funds for diversification initiatives, including the acquisition of First Indemnity of America Insurance Company. Despite increased catastrophe losses, Palomar tightened its full-year adjusted net income guidance to $124 million to $128 million, reaffirming its strategic goal to double adjusted underwriting income within three years.Adjusted Net Income Growth
Palomar Holdings reported a 39% growth in adjusted net income for Q3 2024, with $32.4 million or $1.23 per share, compared to $23.3 million or $0.92 per share in Q3 2023.
Top-Line Growth
The company achieved a 32% increase in gross written premiums, driven by strong performance across its portfolio, including significant growth in Earthquake and Casualty lines.
Earthquake Segment Performance
The Earthquake segment saw strong growth with Residential Earthquake E&S book growing 74% year-over-year. The overall Earthquake franchise grew gross written premiums by 19%.
Crop Insurance Expansion
Palomar's Crop business wrote $60 million in premium in Q3, with year-to-date premiums over $100 million, compared to $12.1 million last year.
Strong Investment Income
Net investment income increased by 56% to $9.4 million, driven by higher yields on invested assets and a higher average balance of investments.
A.M. Best Rating Upgrade
A.M. Best upgraded Palomar's financial strength rating to an A from an A minus, reflecting the company's growth and financial stability.
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PLMR 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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PLMR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 04, 2024 | $88.47 | $90.30 | +2.07% |
| Aug 05, 2024 | $88.25 | $92.99 | +5.37% |
| May 02, 2024 | $77.97 | $80.82 | +3.66% |
| Feb 14, 2024 | $62.20 | $73.65 | +18.41% |
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 Palomar Holdings Inc (PLMR) report earnings?
Palomar Holdings Inc (PLMR) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Palomar Holdings Inc (PLMR) earnings time?
Palomar Holdings Inc (PLMR) earnings time is at Feb 12, 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 PLMR EPS forecast?
PLMR EPS forecast for the fiscal quarter 2024 (Q4) is 1.23.
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