Universal Insurance Holdings (UVE) stock surged 5.8% in the intraday trading session on Wednesday, as the company reported strong fourth-quarter earnings that exceeded analysts' expectations.
In its Q4 2024 earnings report, Universal Insurance posted adjusted earnings per share of $0.25, significantly higher than the consensus estimate of $0.09 per share. The company's revenue also grew 3.9% year-over-year to $348.35 million, surpassing analysts' forecasts of $316.21 million.
The better-than-expected results were likely driven by robust demand for Universal Insurance's products and services, as well as effective cost management strategies. The company's solid financial performance fueled investor optimism, leading to a significant upward movement in its stock price.
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