Palomar Q2 adjusted EPS and net income beat estimates, premiums up 27% - PLMR News | RalliesPalomar Q2 adjusted EPS and net income beat estimates, premiums up 27%
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PLMR• Outlook
- Palomar sees 2026 adjusted net income between $270 mln and $280 mln
- Company expects $8 mln to $12 mln catastrophe losses for full-year 2026
- Palomar says it is maintaining discipline in underwriting amid a dynamic insurance market
Overview
- US specialty insurer's Q2 adjusted EPS beat analyst expectations, gross written premiums rose 27%
- Adjusted net income for Q2 beat analyst expectations
- Company introduced initial quarterly dividend and repurchased 369,000 shares for $41 mln
Key details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|
| Q2 Gross written premiums | | $630.46 mln | |
| Q2 Adjusted EPS | Beat | $2.36 | $2.18 (9 Analysts) |
| Q2 EPS | | $1.94 | |
| Q2 Adjusted Net Income | Beat | $63.77 mln | $60.08 mln (8 Analysts) |
| Q2 Net Income | | $52.59 mln | |
Result drivers
- Premium growth - Gross written premiums rose 27% year-over-year, led by growth in Casualty, Crop, and Surety & Credit lines
