Palomar Q2 net income $0.69 EPS, 25% premium growth; raises FY23 guidance to $89-93M adjusted net income

Palomar Holdings, Inc.

2023-Q2 EPS reported $1.37 revenue$179,597,000

Net income $17.6M ($0.69 diluted EPS) vs $14.6M ($0.57) Q2 2022; adjusted net income $21.8M ($0.86) vs $22.4M ($0.87).
Gross written premiums $274.3M, up 25.4% YoY; combined ratio 79.0% (adjusted 72.2%).
Raised full-year 2023 adjusted net income guidance to $89M-$93M (from prior).
Repurchased 166,482 shares for $8.7M; $50.0M remaining under $100M authorization.
Catastrophe losses of $2.2M from severe convective storms, loss ratio 2.6%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Palomar Holdings, Inc. updated its full year 2023 guidance (raised).

Period: full year 2023
Guidance: raised
Result: guidance update

Exact text from the filing

For the full year 2023, the Company expects to achieve adjusted net income of $89 million to $93 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Palomar Holdings, Inc. reported the fiscal quarter ended June 30, 2023 results: net income $17.6 million, EPS $0.69 per diluted share. Guidance raised.

Period: the fiscal quarter ended June 30, 2023
Net income: $17.6 million
EPS: $0.69 per diluted share
Guidance: raised
Result: reported results

Exact text from the filing

Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $17.6 million, or $0.69 per diluted share, for the second quarter of 2023

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Palomar Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-23-021663

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