Donegal Group (DGICA) Tops Q1 EPS by 10c

Donegal Group (NASDAQ: DGICA) reported Q1 EPS of $0.43, $0.10 better than the analyst estimate of $0.33.

Significant items include:

• Net income of $3.7 million, or 13 cents per diluted Class A share, for the first quarter of 2020, compared to $23.0 million, or 82 cents per diluted Class A share, for the first quarter of 2019
• Net investment losses of $10.7 million for the first quarter of 2020, primarily related to unrealized losses in the fair value of equity securities held at March 31, 2020, compared to net investment gains of $18.1 million for the first quarter of 2019 that included $12.7 million from the sale of Donegal Financial Services Corporation
• Net premiums earned of $187.3 million for the first quarter of 2020 decreased 0.4% compared to the first quarter of 2019
• Net premiums written1 of $198.2 million for the first quarter of 2020 decreased 0.8% compared to the first quarter of 2019
• Combined ratio of 97.0% for the first quarter of 2020, compared to 99.3% for the prior-year quarter
• Book value per share of $15.92 at March 31, 2020, compared to $15.67 at year-end 2019

For earnings history and earnings-related data on Donegal Group (DGICA) click here.

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