Palomar Holdings Reports Strong Q4 Results, Exceeding Expectations
LA JOLLA, Calif. - Palomar Holdings Inc. (PLMR) announced its fourth-quarter earnings on Wednesday, showing an impressive performance that surpassed market estimates.
The company reported a net income of $35 million for the quarter, translating to earnings per share of $1.29. Adjusting for non-recurring items, earnings per share reached $1.52. These figures exceeded analysts' expectations of $1.24 per share, based on a survey by Zacks Investment Research.
Palomar Holdings' revenue for the quarter stood at $155.8 million, while adjusted revenue reached $157 million. Both revenue figures surpassed Zacks' estimates of $147.2 million.
For the full year, the company reported a net income of $117.6 million, equivalent to $4.48 per share. Total revenue for the year amounted to $549.3 million.
Palomar Holdings' strong quarterly and annual results reflect the company's continued growth and financial stability. The company's performance is a testament to its effective business strategy and its ability to deliver consistent earnings.