Palomar Q1 net income $17.3M ($0.68); gross premiums up 46% YoY

Palomar Holdings, Inc.

2023-Q1 EPS reported $0.68 revenue$89,202,000

Net income $17.3M vs $14.5M YoY; adjusted net income $20.4M ($0.80 diluted EPS).
Gross written premiums $250.1M (+46.3% YoY); combined ratio 77.9% (adj. 73.3%).
Full-year 2023 adjusted net income guidance reaffirmed at $86M-$90M.
Secured ~$188M incremental excess-of-loss reinsurance for earthquake book.
Repurchased 134,680 shares for $6.8M; $58.8M remains under $100M authorization.

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. reported first quarter of 2022 results: net income net income of $14.5 million, EPS $0.56 per diluted share.

Period: first quarter of 2022
Net income: net income of $14.5 million
EPS: $0.56 per diluted share
Result: reported results

Exact text from the filing

Palomar Holdings, Inc. Reports First Quarter 2023 Results LA JOLLA, Calif. (May 3, 2023) — Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $17.3 million, or $0.68 per diluted share, for the first quarter of 2023 compared to net income of $14.5 million, or $0.56 per diluted share, for the first quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Palomar Holdings, Inc. reported first quarter of 2023 results: net income net income of $17.3 million, EPS $0.68 per diluted share.

Period: first quarter of 2023
Net income: net income of $17.3 million
EPS: $0.68 per diluted share
Result: reported results

Exact text from the filing

Palomar Holdings, Inc. Reports First Quarter 2023 Results LA JOLLA, Calif. (May 3, 2023) — Palomar Holdings, Inc. (NASDAQ:PLMR) (“Palomar” or “Company”) reported net income of $17.3 million, or $0.68 per diluted share, for the first quarter of 2023 compared to net income of $14.5 million, or $0.56 per diluted share, for the first quarter of 2022.

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Palomar Holdings, Inc. reported full year 2023 results: net income adjusted net income of $86 million to $90 million. Guidance reaffirmed.

Period: full year 2023
Net income: adjusted net income of $86 million to $90 million
Guidance: reaffirmed
Result: guidance update

Exact text from the filing

For the full year 2023, the Company expects to achieve adjusted net income of $86 million to $90 million.

View on SEC.gov

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Palomar Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-007844

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