earnings
confidence high
sentiment neutral
materiality 0.65
Palomar Q1 net income $14.5M ($0.56/diluted); gross written premiums up 65% to $170.9M
Palomar Holdings, Inc.
2022-Q1 EPS reported
$0.56
revenue$78,110,000
- GAAP net income $14.5M ($0.56 diluted EPS); adjusted net income $17.6M ($0.68 diluted).
- Gross written premiums $170.9M, +65% YoY; net earned premiums +61.6%. Record residential earthquake new business.
- Combined ratio 76.5% (adjusted 72.1%) vs 60.4% (53.3%) in Q1 2021; catastrophe loss ratio 0.6% vs -20.5%.
- Full-year 2022 adjusted net income guidance $80M-$85M.
- Repurchased 219,061 shares for $13.0M under $100M authorization.