Kingstone Companies Full Year 2024 Earnings: In Line With Expectations

Kingstone Companies (NASDAQ:KINS) Full Year 2024 Results

Key Financial Results

• Revenue: US$155.1m (up 7.6% from FY 2023).
• Net income: US$18.4m (up from US$6.17m loss in FY 2023).
• Profit margin: 12% (up from net loss in FY 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$1.60 (up from US$0.57 loss in FY 2023).

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KINS Profitability Indicators

• Combined ratio: 80.0% (down from 105.3% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Kingstone Companies Earnings Insights

In the last 12 months, the only revenue segment was Property and Casualty Insurance contributing US$155.1m. Notably, cost of sales worth US$122.3m amounted to 79% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$8.44m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how KINS's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are up 8.4% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Kingstone Companies that you need to take into consideration.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.