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Jun 30, 2023
Verisk Q2 2023 Earnings Report
Verisk demonstrated strong financial performance, driven by growth in underwriting and claims, and increased financial outlook for 2023.
Key Takeaways
Verisk reported a strong second quarter with a 10.1% increase in consolidated revenues, reaching $675.0 million. Income from continuing operations rose by 17.7% to $204.3 million, and diluted GAAP earnings per share increased by 8.9% to $1.35. The company raised its financial outlook for 2023, expecting consolidated revenue to be in the range of $2.63 billion to $2.66 billion, adjusted EBITDA to be in the range of $1.39 billion to $1.43 billion, and diluted adjusted EPS to be between $5.50 and $5.70.
Consolidated revenues increased by 10.1% to $675.0 million, with organic constant currency growth of 9.8%.
Income from continuing operations grew by 17.7% to $204.3 million.
Diluted GAAP earnings per share increased by 8.9% to $1.35.
Free cash flow increased by 120.8% to $134.7 million.
Forward Guidance
Verisk is increasing its financial outlook for 2023.
Positive Outlook
- Consolidated revenue to be in the range of $2.63 billion to $2.66 billion.
- Adjusted EBITDA to be in the range of $1.39 billion to $1.43 billion.
- Diluted adjusted EPS to be between $5.50 and $5.70.
- Adjusted EBITDA margins are unchanged at 53-54%.
- Company is confident in its ability to deliver on its growth strategy and margin expansion commitments.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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