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Compared to Estimates, Palomar (PLMR) Q3 Earnings: A Look at Key Metrics
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For the quarter ended September 2023, Palomar (PLMR - Free Report) reported revenue of $92.31 million, up 11.2% over the same period last year. EPS came in at $0.92, compared to $0.29 in the year-ago quarter.
The reported revenue represents a surprise of +1.32% over the Zacks Consensus Estimate of $91.11 million. With the consensus EPS estimate being $0.75, the EPS surprise was +22.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
Loss Ratio: 18.8% versus 26.3% estimated by six analysts on average.
Combined Ratio: 75.8% compared to the 80.6% average estimate based on six analysts.
Expense Ratio: 57% versus 55.2% estimated by five analysts on average.
Adjusted combined ratio: 70.9% compared to the 75.4% average estimate based on two analysts.
Revenues- Net investment income: $6.03 million compared to the $5.61 million average estimate based on six analysts. The reported number represents a change of +61% year over year.
Revenues- Commission and other income: $0.47 million compared to the $1.25 million average estimate based on six analysts. The reported number represents a change of -65.9% year over year.
Revenues- Net earned premiums: $85.82 million versus the six-analyst average estimate of $85.27 million. The reported number represents a year-over-year change of +10.1%.
Shares of Palomar have returned +1.5% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Compared to Estimates, Palomar (PLMR) Q3 Earnings: A Look at Key Metrics
For the quarter ended September 2023, Palomar (PLMR - Free Report) reported revenue of $92.31 million, up 11.2% over the same period last year. EPS came in at $0.92, compared to $0.29 in the year-ago quarter.
The reported revenue represents a surprise of +1.32% over the Zacks Consensus Estimate of $91.11 million. With the consensus EPS estimate being $0.75, the EPS surprise was +22.67%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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:
- Loss Ratio: 18.8% versus 26.3% estimated by six analysts on average.
- Combined Ratio: 75.8% compared to the 80.6% average estimate based on six analysts.
- Expense Ratio: 57% versus 55.2% estimated by five analysts on average.
- Adjusted combined ratio: 70.9% compared to the 75.4% average estimate based on two analysts.
- Revenues- Net investment income: $6.03 million compared to the $5.61 million average estimate based on six analysts. The reported number represents a change of +61% year over year.
- Revenues- Commission and other income: $0.47 million compared to the $1.25 million average estimate based on six analysts. The reported number represents a change of -65.9% year over year.
- Revenues- Net earned premiums: $85.82 million versus the six-analyst average estimate of $85.27 million. The reported number represents a year-over-year change of +10.1%.
View all Key Company Metrics for Palomar here>>>Shares of Palomar have returned +1.5% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.