Palomar Holdings Q3 Adjusted Earnings, Revenue Climb; Narrows 2024 Adjusted Net Income Guidance -- Shares Up Pre-Bell

MT Newswires Live

Nov 05, 2024

Palomar Holdings (PLMR) reported Q3 adjusted earnings Monday of $1.23 per share, up from $0.92 a year earlier.

Analysts polled by Capital IQ expected $1.05.

Underwriting revenue for the quarter ended Sept. 30 was $136.4 million, up from $86.3 million a year ago.

Four analysts surveyed by Capital IQ expected $125.8 million.

Palomar said it narrowed its 2024 outlook for adjusted net income to $124 million to $128 million, from $124 million to $130 million previously, accounting from losses caused related to Hurricane Milton.

Analysts polled by Capital IQ are looking for $124.9 million.

Shares of the company were up over 5% in recent Tuesday premarket activity.

Price: 93.00, Change: +4.53, Percent Change: +5.12

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