earnings
confidence high
sentiment positive
materiality 0.70
Palomar Q2 net income $14.6M, adj net income $18.7M; gross written premiums up 69% YoY
Palomar Holdings, Inc.
2022-Q2 EPS reported
$1.13
revenue$157,769,000
- GAAP net income $14.6M ($0.57 diluted EPS); adjusted net income $18.7M ($0.73 diluted EPS).
- Gross written premiums $218.7M, up 69.1% YoY; net earned premiums up 48% YoY.
- Combined ratio 75.1%, adjusted combined ratio 69.1% (vs 76.0% and 73.8% in Q2 2021).
- Repurchased 127,952 shares for $7.3M; $79.7M remains under $100M authorization.
- Maintains FY2022 adjusted net income outlook $80M-$85M (incl $5.9M unrealized losses).