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Palomar: Q4 Earnings Snapshot

LA JOLLA, Calif. (AP) — LA JOLLA, Calif. (AP) — Palomar Holdings Inc. (PLMR) on Wednesday reported fourth-quarter net income of $56.2 million.

The La Jolla, California-based company said it had net income of $2.06 per share. Earnings, adjusted for one-time gains and costs, came to $2.24 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $2.06 per share.

The insurance holding company posted revenue of $253.4 million in the period. Its adjusted revenue was $251 million, also beating Street forecasts. Five analysts surveyed by Zacks expected $222 million.

For the year, the company reported profit of $197.1 million, or $7.17 per share. Revenue was reported as $864.1 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PLMR at https://www.zacks.com/ap/PLMR

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