Shares of Goosehead Insurance Inc. (GSHD) surged 12.13% on October 24, 2024, following the company's impressive third-quarter 2024 earnings report and positive analyst coverage.
The Texas-based insurance brokerage firm reported record profitability and reached a significant milestone of $1 billion in premiums written within a single quarter for the first time. According to the earnings call highlights, Goosehead Insurance achieved strong growth across multiple key metrics.
The company's franchise premium grew by 33% to $825 million, while corporate premium increased by 12% to $204 million. Adjusted EBITDA rose by 17% to $26.1 million, with a margin expansion of 193 basis points to 34%. The company attributed its success to significant improvements in its recruiting process, resulting in the largest and highest quality college recruiting class ever.
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