Kinsale Posts $454.8M in Q3 Revenue
KNSL sits 36% above its 52-week low of $287.2.
Summary
Kinsale reported third-quarter revenue of $454.8M, the first hard top-line number out for the quarter, along with net income of $98.1M and EPS of $4.36. Operating EPS came in at $5.70. Gross written premiums fell 4.8%, and net written premiums fell 1.5% to $399.1M. The release carries no combined ratio or comparison to estimates. Context matters here: Q2 showed net income up 31% but gross written premiums fell on competition, and the company added $250M to its buyback in July.
At the time of this announcement, KNSL was trading at $390.64 on NYSE in the Finance sector, with a market capitalization of approximately $8.9B. The 52-week trading range was $287.20 to $462.82. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.