Overview

* Palomar ( PLMR ) Q3 gross written premiums rise 43.9% yr/yr

* Adjusted EPS for Q3 beats analyst expectations

* Company acquired The Gray Casualty and Surety Company in October

Outlook

* Company raises full-year 2025 adjusted net income forecast to $210 mln-$215 mln

* Company's investments in Crop and Surety expected to drive long-term growth

Result Drivers

* GROSS WRITTEN PREMIUMS - Increased 43.9% to $597.2 mln, driven by strong performance across diverse portfolio

* ADJUSTED NET INCOME - Rose 70% to $55.2 mln, supported by lower catastrophe loss ratio and improved underwriting income

* CROP AND SURETY EXPANSION - Strategic focus on crop and surety segments, including acquisition of The Gray Casualty and Surety Company, to drive growth

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Gross $597.17

written mln

premiums

Q3 Beat $2.01 $1.62 (7

Adjusted Analysts

EPS )

Q3 EPS $1.87

Q3 Beat $55.16 $43.97

Adjusted mln mln (7

Net Analysts

Income )

Q3 Net $51.46

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the property & casualty insurance peer group is "buy"

* Wall Street's median 12-month price target for Palomar Holdings Inc ( PLMR ) is $164.00, about 28.8% above its November 5 closing price of $116.71

* The stock recently traded at 14 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)