Skyward Specialty Insurance Group First Quarter 2024 Earnings: Beats Expectations

Skyward Specialty Insurance Group (NASDAQ:SKWD) First Quarter 2024 Results

Key Financial Results

• Revenue: US$265.0m (up 40% from 1Q 2023).
• Net income: US$36.8m (up 158% from 1Q 2023).
• Profit margin: 14% (up from 7.5% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.94 (up from US$0.43 in 1Q 2023).

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

Skyward Specialty Insurance Group Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 6.0%. Earnings per share (EPS) also surpassed analyst estimates by 46%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's share price is broadly unchanged from a week ago.

Valuation

If you are seeking undervalued stocks, our analysis of 6 valuation measures indicates Skyward Specialty Insurance Group could be a good place to look. Discover what analysts are forecasting and how the current share price shapes up by clicking here.

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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.