Universal Insurance Holdings Second Quarter 2024 Earnings: Beats Expectations

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

Key Financial Results

• Revenue: US$380.2m (up 12% from 2Q 2023).
• Net income: US$35.4m (up 24% from 2Q 2023).
• Profit margin: 9.3% (up from 8.4% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$1.24 (up from US$0.94 in 2Q 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 12%. Earnings per share (EPS) also surpassed analyst estimates by 5.2%.

Looking ahead, revenue is expected to decline by 3.3% p.a. on average during the next 2 years, while revenues in the Insurance industry in the US are expected to grow by 5.2%.

Performance of the American Insurance industry.

The company's shares are up 2.1% from a week ago.

Risk Analysis

It is worth noting though that we have found 2 warning signs for Universal Insurance Holdings (1 is potentially serious!) that you need to take into consideration.

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