Kingstone (KINS) Tops Q1 EPS by 14c

Kingstone (NASDAQ: KINS) reported Q1 EPS of ($0.25), $0.14 better than the analyst estimate of ($0.39).

• Direct written premiums1 increased 20.7%; Personal lines grew by 27.6%.
• Net premiums earned increased 39.5% to $22.8 million.
• Net investment income increased 61.3% to $1.4 million.
• First quarter net catastrophe losses, including associated loss adjustment expenses and decrease in contingent ceding commissions, are now estimated at $4.6 million after taxes.
• Net loss ratio of 75.6% compared to 50.7%. Net loss ratio, excluding Q1 2018 catastrophe losses1, of 51.3% compared to 50.7%.
• Net operating income1 decreased to a loss of ($2.3 million) or ($0.22) per diluted share from a gain of $1.5 million or $0.15 per diluted share.
• Net income decreased to a loss of ($2.7 million) or ($0.25) per diluted share from a gain of $1.5 million or $0.15 per diluted share.
• Net combined ratio of 114.3% compared to 85.2%. Net combined ratio, excluding Q1 2018 catastrophe losses1, of 88.7% compared to 85.2%.
• Book value per share of $8.27, down $.02 from March 31, 2017 and down $.63 from December 31, 2017.

For earnings history and earnings-related data on Kingstone (KINS) click here.

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