United Insurance Holdings (UIHC) Misses Q3 EPS by 40c, Revenues Beat

United Insurance Holdings (NASDAQ: UIHC) reported Q3 EPS of ($0.35), $0.40 worse than the analyst estimate of $0.05. Revenue for the quarter came in at $187.65 million versus the consensus estimate of $167.93 million.

“We accomplished a lot during the quarter, including the launch of Journey, our fifth insurance company, and the first one to have an A.M. Best Rating,” said John Forney, President & CEO of UPC Insurance. “We grew earned premium by over 13% year-over-year during the quarter, and saw especially strong growth in New York, where our new product is beginning to get good traction. While Hurricane Florence hurt our bottom line results, that blow was softened by the ex-Florida retention buydown feature in our reinsurance program. All in all, I’m pleased with the progress we are making and the opportunities we are creating to support sustained growth and profitability.”

For earnings history and earnings-related data on United Insurance Holdings (UIHC) click here.

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