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Compared to Estimates, Palomar (PLMR) Q2 Earnings: A Look at Key Metrics
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Palomar (PLMR - Free Report) reported $131.04 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 46.8%. EPS of $1.25 for the same period compares to $0.86 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $120.39 million, representing a surprise of +8.85%. The company delivered an EPS surprise of +11.61%, with the consensus EPS estimate being $1.12.
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:
Loss Ratio
: 24.9% compared to the 23.7% average estimate based on six analysts.
Expense Ratio
: 54.2% versus 55% estimated by five analysts on average.
Combined Ratio
: 79.1% versus the five-analyst average estimate of 78.5%.
Adjusted combined ratio
: 73.1% compared to the 74.8% average estimate based on three analysts.
Revenues- Commission and other income
: $0.79 million versus $0.70 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +27.5% change.
Revenues- Net investment income
: $7.96 million versus $7.76 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +43.7% change.
Revenues- Net earned premiums
: $122.29 million versus the six-analyst average estimate of $112.03 million. The reported number represents a year-over-year change of +47.1%.
Shares of Palomar have returned +9.1% over the past month versus the Zacks S&P 500 composite's -2.9% 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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Compared to Estimates, Palomar (PLMR) Q2 Earnings: A Look at Key Metrics
Palomar (PLMR - Free Report) reported $131.04 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 46.8%. EPS of $1.25 for the same period compares to $0.86 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $120.39 million, representing a surprise of +8.85%. The company delivered an EPS surprise of +11.61%, with the consensus EPS estimate being $1.12.
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:
View all Key Company Metrics for Palomar here>>>Loss Ratio
: 24.9% compared to the 23.7% average estimate based on six analysts.Expense Ratio
: 54.2% versus 55% estimated by five analysts on average.Combined Ratio
: 79.1% versus the five-analyst average estimate of 78.5%.Adjusted combined ratio
: 73.1% compared to the 74.8% average estimate based on three analysts.Revenues- Commission and other income
: $0.79 million versus $0.70 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +27.5% change.Revenues- Net investment income
: $7.96 million versus $7.76 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +43.7% change.Revenues- Net earned premiums
: $122.29 million versus the six-analyst average estimate of $112.03 million. The reported number represents a year-over-year change of +47.1%.Shares of Palomar have returned +9.1% over the past month versus the Zacks S&P 500 composite's -2.9% 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.