Kinsale Reports Highest Net Income Ever
Here's our initial take on Kinsale Capital Group's (NYSE: KNSL) financial report.
Kinsale Capital Group reported two mildly disappointing quarters prior to this one, so investors were curious to see if the company could turn things around.
Well, the good news is that Kinsale beat revenue and earnings expectations for the second quarter, and pretty handily. Adjusted earnings of $4.78 per share grew by 27.5% year over year, and total revenue grew by 22% to $469.8 million. Unlike the first quarter, Kinsale's catastrophe losses in the second quarter were comparable to the year-ago period, which helped the company's headline numbers return to impressive growth. In fact, Kinsale's net income was the highest it's ever been.
Source Fool.com
