EarningsQ2 2026 Earnings Report
DE:PH8 Q2 2026 EPS Results
Actual EPS€2.10
Consensus EPS€1.95
Beat/MissBeat by +€0.15
One Year Ago EPS€1.57
DE:PH8 Q2 2026 Revenue Results
Actual Revenue€280.24M
Expected Revenue€553.96M
Beat/MissMissed by -€273.72M
YoY Revenue Growth+54.65%
Earnings Announcement Details
QuarterQ2 2026
Date08/04/2026
TimeAfter Close
Conference CallTuesday, August 4, 2026
DE:PH8 Upcoming Earnings
Palomar Holdings's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
DE:PH8 Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed a strongly positive operational and financial performance: record adjusted earnings, robust top-line growth (GWP +27%), meaningful franchise expansions (crop +96%, surety +236%), favorable reinsurance placements, and capital returns (share repurchases and dividend). Challenges were acknowledged — higher losses and an increased loss ratio due to mix and timing (notably crop), competitive rate pressure in large commercial earthquake and property, and modestly higher expense ratios — but management emphasized disciplined underwriting, conservative reserving, and line-by-line reinsurance and capital management actions to mitigate these headwinds. On balance, the positive execution, guidance raise, and material franchise expansions outweigh the manageable lowlights.Company Guidance
Record Adjusted Earnings and Guidance Raise
Adjusted net income was $63.8M (+31% YoY) or $2.36 per diluted share (+34% YoY). Management raised full-year adjusted net income guidance to $270M–$280M (midpoint implies ~27% YoY growth) and expects an adjusted ROE of ~26%.
Strong Top-Line Growth
Gross written premiums increased 27% YoY to $630.5M. Net earned premium rose 59.5% YoY to $287M, reflecting growth across specialty lines and acquisitions.
Robust Underwriting and Profitability Metrics
Adjusted underwriting income was $67M (+38% YoY). Annualized adjusted return on equity was 26.3% (up from 23.7% prior year). Adjusted combined ratio was in the mid-70s (76.7% for the quarter), consistent with a profitable specialty platform.
Significant Crop Franchise Expansion and Technology Launch
Crop gross written premium grew 96% YoY and full-year crop premium outlook increased to >$400M (from ~ $320M). Management highlighted PLMR.Farm, an AI-developed policy administration platform, as a differentiator for scaling crop underwriting, servicing and claims.
Rapid Growth in Surety & Credit
Surety & Credit gross written premium increased 236% YoY to approximately $39M; integration of Gray Surety substantially complete. New surety excess-of-loss reinsurance enables $70M bond authority with $3.5M net retention.
Diversification and Product Momentum
Casualty niche program portfolio grew 37% YoY; Inland Marine & Property grew 11% YoY driven by admitted Builder's Risk, residential property and motor truck cargo (motor truck cargo +22%). No single product exceeded one-third of GWP; ~50% of portfolio is property, 52% admitted.
Strong Capital and Reinsurance Execution
Completed reinsurance placements adding ~$421M incremental catastrophe limit (total earthquake limit ~$3.92B, CUS hurricane $135M) while maintaining earthquake and hurricane retentions at $20M and $11M. Executed seventh Torrey Pines Re catastrophe bond. Cash & invested assets ~ $1.7B; investment yield ~4.9% (avg new investments >5%).
Shareholder Returns and Leadership Investments
Repurchased 368,719 shares for ~$41M (avg $111/share) and initiated a quarterly dividend of $0.45/share. Added senior hires: Chief Actuarial Officer Sheri Scott and Head of AI Madison Ragozin to accelerate analytics and AI initiatives.
Reserve Discipline & Favorable Prior-Year Development
Reported $14.3M of favorable prior-year development this quarter; conservative reserving with ~79% of total reserves and 84% of casualty reserves in IBNR, reinforcing reserving philosophy.
DE:PH8 Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed