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Palomar (PLMR) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2024, Palomar (PLMR - Free Report) reported revenue of $145.77 million, up 57.9% over the same period last year. EPS came in at $1.23, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $134.72 million, representing a surprise of +8.20%. The company delivered an EPS surprise of +13.89%, with the consensus EPS estimate being $1.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Palomar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Loss Ratio: 29.7% compared to the 28.6% average estimate based on six analysts.
Combined Ratio: 80.5% versus the five-analyst average estimate of 81.4%.
Expense Ratio: 50.8% compared to the 53.4% average estimate based on five analysts.
Adjusted combined ratio: 77.1% compared to the 79% average estimate based on three analysts.
Revenues- Net investment income: $9.41 million versus $8.30 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +56.1% change.
Revenues- Commission and other income: $0.72 million versus the six-analyst average estimate of $0.69 million. The reported number represents a year-over-year change of +53.8%.
Revenues- Net earned premiums: $135.65 million versus $125.85 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +58.1% change.
Shares of Palomar have returned -14.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Palomar (PLMR) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2024, Palomar (PLMR - Free Report) reported revenue of $145.77 million, up 57.9% over the same period last year. EPS came in at $1.23, compared to $0.92 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $134.72 million, representing a surprise of +8.20%. The company delivered an EPS surprise of +13.89%, with the consensus EPS estimate being $1.08.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Palomar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Loss Ratio: 29.7% compared to the 28.6% average estimate based on six analysts.
- Combined Ratio: 80.5% versus the five-analyst average estimate of 81.4%.
- Expense Ratio: 50.8% compared to the 53.4% average estimate based on five analysts.
- Adjusted combined ratio: 77.1% compared to the 79% average estimate based on three analysts.
- Revenues- Net investment income: $9.41 million versus $8.30 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +56.1% change.
- Revenues- Commission and other income: $0.72 million versus the six-analyst average estimate of $0.69 million. The reported number represents a year-over-year change of +53.8%.
- Revenues- Net earned premiums: $135.65 million versus $125.85 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +58.1% change.
View all Key Company Metrics for Palomar here>>>Shares of Palomar have returned -14.1% over the past month versus the Zacks S&P 500 composite's +0.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.