Kinsale Capital Group, Q2 Earnings: Comparing Key Metrics to Wall Street Estimates
August 1, 2023
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Kinsale Capital ($NYSE:KNSL) Group, Inc. is a publicly-traded financial services and investment management firm based in Richmond, Virginia. The company provides comprehensive capital markets and financial advisory services to public and private companies, as well as to institutional clients. During the second quarter of 2023, Kinsale Capital released its quarterly earnings report, which provided investors and analysts with insights into how the company has performed over the quarter. By comparing Kinsale Capital’s Q2 revenue and earnings per share (EPS) to Wall Street estimates, investors are able to gain a better understanding of the company’s performance and determine whether it has met or exceeded expectations.
Overall, Kinsale Capital’s Q2 earnings appear to have been slightly higher than expected despite the small miss on EPS. Investors will be watching closely to see how the company performs moving forward and if it can continue to exceed analyst expectations.
Earnings
KINSALE CAPITAL Group, Inc. recently released its earnings report for the second quarter of FY2023 ending June 30 2021. The report revealed that KINSALE CAPITAL earned a total revenue of 153.01M USD and a net income of 35.64M USD. Compared to the same quarter last year, the total revenue declined by 14.5% while net income increased by 31.6%. In the last three years, KINSALE CAPITAL’s total revenue has grown from 153.01M USD to 295.77M USD.
This significant growth in total revenue is indicative of the company’s overall positive performance in the past years, which is also reflected in the increased net income in Q2 2021. Overall, the results of KINSALE CAPITAL Group, Inc. Q2 FY2023 earnings reported by KINSALE CAPITAL are in line with Wall Street estimates, and the company continues to show signs of strong financial performance and stability.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Kinsale Capital. More…
| Total Revenues | Net Income | Net Margin |
| 1.01k | 228.82 | 22.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Kinsale Capital. More…
| Operations | Investing | Financing |
| 702.74 | -883.09 | 184.52 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Kinsale Capital. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.27k | 2.4k | 37.64 |
Key Ratios Snapshot
Some of the financial key ratios for Kinsale Capital are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 39.8% | – | 28.9% |
| FCF Margin | ROE | ROA |
| 68.7% | 21.6% | 5.6% |
Stock Price
Kinsale Capital Group, Inc. reported their Q2 earnings on Friday, and there was a lot to process in the details. The stock opened at $381.2 and closed at $376.6, down 0.5% from the prior closing price of $378.6. This decline was a bit lower than what analysts expected, as Wall Street had estimated a more positive outlook for the company’s results. The actual earnings report showed that Kinsale Capital’s revenue and earnings per share (EPS) were both lower than the published estimates.
Overall, investors were cautiously optimistic as KINSALE CAPITAL‘s Q2 results did not meet all expectations but still managed to outperform in some key metrics. The company’s stock price did not react dramatically to the news and remained relatively steady throughout the day. Live Quote…
Analysis
GoodWhale recently conducted an analysis of KINSALE CAPITAL‘s wellbeing. Our star chart showed that the company is strong in dividend and growth, and medium in asset, but weak in profitability. Our health score for KINSALE CAPITAL was 8/10, which signifies that it is capable of paying off debt and funding future operations through its current cash flows. Based on our analysis, we classified KINSALE CAPITAL as a ‘cheetah’ type company, i.e., one which has achieved high revenue or earnings growth, but is considered less stable due to a lower level of profitability. Investors who are looking for high-growth companies with potential to deliver sustainable returns may be interested in KINSALE CAPITAL; however, they should keep in mind the relatively low level of profitability. Additionally, investors should assess whether the company has the ability to continue to generate revenues and maintain its growth trajectory over the long-term. More…
Peers
The company has a strong presence in the US market and is one of the leading providers of insurance and reinsurance products in the world. The company has a strong competition with ProAssurance Corp, National Security Group Inc, United Fire Group Inc.
– ProAssurance Corp ($NYSE:PRA)
ProAssurance Corporation is a holding company for five property and casualty insurance companies. The Company provides professional liability insurance for healthcare professionals and facilities, lawyers, architects, accountants and other business professionals, and also offers workers’ compensation insurance and product liability insurance. ProAssurance has offices in Alabama, Arizona, Colorado, Illinois, Indiana, Kentucky, Louisiana, Mississippi, Missouri, Ohio, Oklahoma, Pennsylvania, Tennessee and Texas.
– National Security Group Inc ($NASDAQ:UFCS)
United Fire Group, Inc., through its subsidiaries, engages in the business of writing property and casualty insurance, and providing services related to the insurance business in the United States. The company operates in two segments, Property and Casualty Insurance, and Reinsurance. The Property and Casualty Insurance segment offers a range of insurance products, including commercial multi-peril, workers’ compensation, commercial automobile, and homeowners insurance products; and specialty insurance products, such as surety, inland marine, farmowners, and other lines. This segment also provides loss control and risk management services. The Reinsurance segment comprises the operations of United Fire & Casualty Company’s domestic and international reinsurance subsidiaries. United Fire Group, Inc. was founded in 1834 and is headquartered in Cedar Rapids, Iowa.
Summary
Kinsale Capital Group’s second quarter performance was closely tracked by Wall Street analysts, as their estimates were compared to the company’s actual earnings. Overall, Kinsale’s strong performance was applauded by analysts who believe that the company is well positioned to continue its growth trajectory.
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