American Coastal Insurance Third Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

[email protected] (Simply Wall St)
1 min read

In This Article:

  • American Coastal Insurance's third-quarter revenue rose 40% to $82.1 million, but fell short of analyst estimates by 2.8%.
  • The company's net income surged 93% to $27.7 million, resulting in a profit margin of 34%, up from 25% in the same period last year.
  • American Coastal Insurance's earnings per share (EPS) of $0.58 exceeded analyst estimates by 54%, beating expectations.
  • The company's shares are up 4.0% from a week ago, and revenue is forecast to grow 12% per annum on average over the next three years.
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American Coastal Insurance (NASDAQ:ACIC) Third Quarter 2024 Results

Key Financial Results

  • Revenue: US$82.1m (up 40% from 3Q 2023).

  • Net income: US$27.7m (up 93% from 3Q 2023).

  • Profit margin: 34% (up from 25% in 3Q 2023). The increase in margin was driven by higher revenue.

  • EPS: US$0.58 (up from US$0.33 in 3Q 2023).

earnings-and-revenue-growth
NasdaqCM:ACIC Earnings and Revenue Growth November 8th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

American Coastal Insurance EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) exceeded analyst estimates by 54%.

Looking ahead, revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 5.3% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are up 4.0% from a week ago.

Risk Analysis

Be aware that American Coastal Insurance is showing 2 warning signs in our investment analysis that you should know about...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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