Palomar Holdings Third Quarter 2024 Earnings: Beats Expectations

Palomar Holdings (NASDAQ:PLMR) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$148.5m (up 63% from 3Q 2023).
• Net income: US$30.5m (up 66% from 3Q 2023).
• Profit margin: 21% (in line with 3Q 2023).
• EPS: US$1.18 (up from US$0.74 in 3Q 2023).

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

Palomar Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 8.4%. Earnings per share (EPS) also surpassed analyst estimates by 22%.

Looking ahead, revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are up 6.7% from a week ago.

Risk Analysis

You should learn about the 2 warning signs we've spotted with Palomar Holdings.

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