1347 Property (PIH) Reports Q4 EPS of $0.11

1347 Property (NASDAQ: PIH) reported Q4 EPS of $0.11, versus $0.69 reported last year. Direct premiums written were $9.6 million, representing a 20.3% increase over the $8.0 million reported in the prior year quarter. Net premiums earned increased 103.6% to $5.2 million from $2.5 million.

Doug Raucy, Chief Executive Officer, stated, “We continued to organically expand our book of business throughout Louisiana, highlighted by an 86% increase in policy count over the previous year. We are achieving these results by leveraging decades of relationships in the Louisiana market to generate organic policy growth through a tight-knit network of agents. Since our IPO in March 2014, we have focused on expanding our book throughout the state. The Company now insures personal property located in 63 of the total 64 parishes in the State of Louisiana, with the majority of our policies located in the more populous parishes surrounding Louisiana’s four major cities, New Orleans, Baton Rouge, Lafayette, and Shreveport. We are also focused on continued improvement in operating profitability. While we have added the additional expense of being a public company, we continued to report a strong net combined ratio for both the quarter and the year."

For earnings history and earnings-related data on 1347 Property (PIH) click here.

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