National General (NGHC) Tops Q4 EPS by 1c, Revenues Beat

National General (NASDAQ: NGHC) reported Q4 EPS of $0.30, $0.01 better than the analyst estimate of $0.29. Revenue for the quarter came in at $1.18 billion versus the consensus estimate of $1.14 billion.

• Fourth quarter 2018 net income of $17.3 million compared to net loss of $9.9 million in the fourth quarter of 2017. Year ended 2018 net income was $174.9 million compared to $74.3 million in the year ended 2017.
• Fourth quarter 2018 net income per diluted share of $0.16 compared to net loss per diluted share of $0.09 in the fourth quarter of 2017. Year ended 2018 net income per diluted share was $1.59 compared to $0.68 in the year ended 2017.
• Fourth quarter 2018 operating earnings (non-GAAP)(1) was $33.6 million compared to $30.0 million in the fourth quarter of 2017. Year ended 2018 operating earnings (non-GAAP)(1) was $231.5 million compared to $118.1 million in the year ended 2017.
• Fourth quarter 2018 operating earnings per share (non-GAAP)(1) was $0.30 compared to $0.28 in the fourth quarter of 2017. Year ended 2018 operating earnings per share (non-GAAP)(1) was $2.09 compared to $1.09 in the year ended 2017.

Barry Karfunkel, National General’s CEO, stated: “I’m pleased to report a year of record earnings for National General despite continued elevated catastrophe losses for the industry. Our diversified approach to niche areas in personal lines insurance is paying dividends, with strength in our Accident and Health segment driving an increasing share of underwriting income. In the quarter, we entered into an agreement to acquire National Farmers Union Insurance. This acquisition brings new competencies to National General through geographic diversification as well as a new distribution partner with the National Farmers Union. I think the strength of the platform that we have built since National General’s founding was evident this year, and I expect it to drive continued out-performance in the coming years.”

For earnings history and earnings-related data on National General (NGHC) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• HeartCore Enterprises, Inc. (HTCR) Misses Q2 EPS by 185c
• Diana Shipping drops bid for Genco after price demands spike to $36.91