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Here's What Key Metrics Tell Us About Palomar (PLMR) Q2 Earnings
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Palomar (PLMR - Free Report) reported $89.27 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.8%. EPS of $0.86 for the same period compares to $0.73 a year ago.
The reported revenue represents a surprise of -5.23% over the Zacks Consensus Estimate of $94.2 million. With the consensus EPS estimate being $0.83, the EPS surprise was +3.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Palomar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Expense Ratio: 57.5% versus 54.05% estimated by six analysts on average.
Combined Ratio: 79% versus 77.83% estimated by six analysts on average.
Loss Ratio: 21.5% versus the six-analyst average estimate of 23.77%.
Revenues- Net earned premiums: $83.11 million compared to the $88.93 million average estimate based on six analysts. The reported number represents a change of +3.5% year over year.
Revenues- Commission and other income: $0.62 million compared to the $1.08 million average estimate based on six analysts. The reported number represents a change of -37.3% year over year.
Revenues- Net investment income: $5.54 million versus $5.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +76.5% change.
Shares of Palomar have returned +3.1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Palomar (PLMR) Q2 Earnings
Palomar (PLMR - Free Report) reported $89.27 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 5.8%. EPS of $0.86 for the same period compares to $0.73 a year ago.
The reported revenue represents a surprise of -5.23% over the Zacks Consensus Estimate of $94.2 million. With the consensus EPS estimate being $0.83, the EPS surprise was +3.61%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Palomar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Expense Ratio: 57.5% versus 54.05% estimated by six analysts on average.
- Combined Ratio: 79% versus 77.83% estimated by six analysts on average.
- Loss Ratio: 21.5% versus the six-analyst average estimate of 23.77%.
- Revenues- Net earned premiums: $83.11 million compared to the $88.93 million average estimate based on six analysts. The reported number represents a change of +3.5% year over year.
- Revenues- Commission and other income: $0.62 million compared to the $1.08 million average estimate based on six analysts. The reported number represents a change of -37.3% year over year.
- Revenues- Net investment income: $5.54 million versus $5.16 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +76.5% change.
View all Key Company Metrics for Palomar here>>>Shares of Palomar have returned +3.1% over the past month versus the Zacks S&P 500 composite's +3% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.