Universal Insurance Holdings (NYSE:UVE) Second Quarter 2024 Results
Key Financial Results
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Revenue: US$380.2m (up 12% from 2Q 2023).
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Net income: US$35.4m (up 24% from 2Q 2023).
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Profit margin: 9.3% (up from 8.4% in 2Q 2023). The increase in margin was driven by higher revenue.
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EPS: US$1.23 (up from US$0.94 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Universal Insurance Holdings Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 12%. Earnings per share (EPS) also surpassed analyst estimates by 5.2%.
Looking ahead, revenue is expected to decline by 2.9% p.a. on average during the next 2 years, while revenues in the Insurance industry in the US are expected to grow by 4.7%.
Performance of the American Insurance industry.
The company’s share price is broadly unchanged from a week ago.
Risk Analysis
We should say that we’ve discovered 2 warning signs for Universal Insurance Holdings (1 is concerning!) that you should be aware of before investing here.
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