ACIC Q4 core EPS $0.12 misses estimates, hit by Hurricane Milton losses

AMERICAN COASTAL INSURANCE Corp

2024-FY EPS reported $1.54 revenue$296,657,000

Q4 core income $6.0M ($0.12 diluted) vs analyst estimate $0.16; down 66.7% YoY.
Combined ratio 91.9% due to 27.8 points from Hurricane Milton; net cat losses $20.4M.
FY24 combined ratio 67.5%, near 65% target; net premiums earned up 49.6% to $73.5M.
Declared $0.50 special dividend during Q4; book value per share $4.89.
Launched new apartment product (19 policies, $2.3M premium); placed $200M cat bond oversubscribed.

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