Universal Insurance Holdings First Quarter 2024 Earnings: Beats Expectations

Universal Insurance Holdings (NYSE:UVE) First Quarter 2024 Results

Key Financial Results

• Revenue: US$368.0m (up 16% from 1Q 2023).
• Net income: US$33.7m (up 39% from 1Q 2023).
• Profit margin: 9.1% (up from 7.6% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.17 (up from US$0.80 in 1Q 2023).

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

Universal Insurance Holdings Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 9.5%. Earnings per share (EPS) also surpassed analyst estimates by 9.6%.

Looking ahead, revenue is expected to decline by 1.3% p.a. on average during the next 2 years, while revenues in the Insurance industry in the US are expected to grow by 6.0%.

Performance of the American Insurance industry.

The company's shares are down 2.9% from a week ago.

Risk Analysis

We should say that we've discovered 1 warning sign for Universal Insurance Holdings that you should be aware of before investing here.

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