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Palomar (PLMR) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Equity Research
·2-min read

Palomar (PLMR) reported $115.53 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 29.7%. EPS of $1.09 for the same period compares to $0.80 a year ago.

The reported revenue compares to the Zacks Consensus Estimate of $108.56 million, representing a surprise of +6.42%. The company delivered an EPS surprise of +18.48%, with the consensus EPS estimate being $0.92.

While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.

As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

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Here is how Palomar performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Loss Ratio: 24.9% versus the six-analyst average estimate of 23.8%.

  • Combined Ratio: 76.9% versus the five-analyst average estimate of 81.9%.

  • Expense Ratio: 52% compared to the 57.8% average estimate based on five analysts.

  • Adjusted combined ratio: 73% versus 77.1% estimated by three analysts on average.

  • Revenues- Net investment income: $7.14 million versus $7.54 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +39.4% change.

  • Revenues- Commission and other income: $0.53 million compared to the $0.92 million average estimate based on six analysts. The reported number represents a change of -24% year over year.

  • Revenues- Net earned premiums: $107.87 million compared to the $100.17 million average estimate based on six analysts. The reported number represents a change of +29.6% year over year.

View all Key Company Metrics for Palomar here>>>

Shares of Palomar have returned -4.4% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.

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Zacks Investment Research