Palomar Q4 adj EPS $1.11, gross premiums +26.8%; guides FY24 adj net income $110-115M

Palomar Holdings, Inc.

2023-FY EPS reported $3.13 revenue$375,926,000

Q4 2023 net income $25.9M ($1.02 diluted EPS); adjusted net income $28.0M ($1.11 diluted EPS), up from $0.82 adjusted EPS in Q4 2022.
Gross written premiums +26.8% to $303.2M; combined ratio improved to 74.2% (adjusted 68.8%) from 75.5% (adjusted 71.4%).
Full-year 2023 adjusted net income $93.5M (vs $71.3M in 2022); return on equity 18.5% (adjusted 21.9%).
Guides FY2024 adjusted net income $110-115M, including ~$3.5M estimated loss from California flooding.
Net investment income +58.9% to $7.0M; cash & invested assets $741.4M at Dec 31, 2023.

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 2024 guidance (initiated).

Period: full year 2024
Guidance: initiated
Result: guidance update

Exact text from the filing

Full Year 2024 Outlook For the full year 2024, the Company expects to achieve adjusted net income of $110 million to $115 million.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Palomar Holdings, Inc. reported full year 2023 results: net income $79.2 million. Guidance initiated.

Period: full year 2023
Net income: $79.2 million
Guidance: initiated
Result: reported results

Exact text from the filing

Full Year 2023 Highlights ● Gross written premiums increased by 29.4% to $1.1 billion compared to $881.9 million in 2022 ● Net income of $79.2 million compared to $52.2 million in 2022

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Palomar Holdings, Inc. reported fourth quarter of 2023 results: net income $25.9 million, EPS $1.02 per diluted share. Guidance initiated.

Period: fourth quarter of 2023
Net income: $25.9 million
EPS: $1.02 per diluted share
Guidance: initiated
Result: reported results

Exact text from the filing

Palomar Holdings, Inc. Reports Fourth Quarter & Full Year 2023 Results LA JOLLA, Calif. ( February 14, 2024 ) — Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $25.9 million, or $1.02 per diluted share, for the fourth quarter of 2023

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Palomar Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-24-004161

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