Universal Insurance (UVE) Misses Q2 EPS by $1.21, Revenues Beat; Lowers FY20 EPS Guidance Below Consensus

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Universal Insurance Holdings Reports Third Quarter 2020 Results

October 27, 2020 4:15 PM EDT

3Q20 total revenue up 35.7% to $311.7 million 3Q20 direct premiums written up 19.4% 3Q20 diluted GAAP earnings per share (EPS) of $(0.10), non-GAAP adjusted EPS1 of $(1.43) Book value per share increased 0.1% since the end of 2019 to $15.15 despite elevated industry-wide weather activity YTD annualized return on average equity of 10.0%

FORT LAUDERDALE, Fla.--(BUSINESS WIRE)-- Universal Insurance Holdings (NYSE: UVE) (the Company) reported 2020 third quarter diluted EPS of $(0.10) on a GAAP basis and $(1.43) non-GAAP adjusted EPS1. Total revenue was up 35.7% from the year ago quarter to $311.7 million. Year-to-date annualized... More