Atlas Financial Holdings (AFH) Misses on Q4 Revenues

Note: EPS may not be comparable

Atlas Financial Holdings (NASDAQ: AFH) reported Q4 EPS of ($4.48), $4.72 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $59 million versus the consensus estimate of $59.71 million.

Fourth Quarter 2017 Financial Performance Summary (comparisons to Fourth Quarter 2016 unless noted):

• Gross premiums written increased by 4.3% to $54.2 million
• Total revenue increased by 27.4% to $59.0 million
• The combined ratio for the fourth quarter 2017 was 220.3%, compared to 156.5%, which includes the impact from claims reserves strengthening related to prior accident years of 130.3% and 72.9%, respectively
• Including the impact of reserve strengthening, net loss for the fourth quarter 2017 was $54.3 million, or $4.48 loss per common share diluted, compared to a net loss of $13.6 million, or $1.13 loss per common share diluted, representing a decrease in earnings per common share of $3.35 from fourth quarter 2016
• Annualized return on equity was a negative 184.8% in the fourth quarter 2017 compared to a negative 39.6% in the prior year period

For earnings history and earnings-related data on Atlas Financial Holdings (AFH) click here.

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