Universal Insurance (UVE) Tops Q1 EPS by 6c

Universal Insurance (NYSE: UVE) reported Q1 EPS of $0.86, $0.06 better than the analyst estimate of $0.80.

Universal Insurance Holdings, Inc. Chairman and Chief Executive Officer Sean P. Downes commented: "During the first quarter, Universal reported excellent top line growth and substantial underwriting profit, leading to a strong bottom line result and a 31.4% return on average equity. Although the quarter included losses from weather events beyond plan, our claims handling organization performed up to our high expectations, and these events had a minimal impact on our quarterly earnings. We remain focused on producing profitable and rate-adequate organic growth within Florida and through our Other State expansion efforts, further enhancing our unique direct-to-consumer platform, Universal DirectSM, and continuing to leverage our vertically integrated structure to deliver better service to our policyholders. First quarter results were a great start to 2017, and Universal is well positioned on all fronts to deliver outstanding value to our shareholders going forward."

For earnings history and earnings-related data on Universal Insurance (UVE) click here.

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