AMERISAFE, Inc. AMSF reported second-quarter adjusted earnings per share of 44 cents, missing the Zacks Consensus Estimate by 17%. The bottom line declined 17% year over year.
Operating revenues increased 10.3% year over year to $83.95 million and topped the Zacks Consensus Estimate by 1%.
The quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. Strong premium growth partly offset these headwinds.
AMERISAFE, Inc. Price, Consensus and EPS Surprise
AMERISAFE, Inc. price-consensus-eps-surprise-chart | AMERISAFE, Inc. Quote
Net premiums earned of $77.3 million advanced 11.4% year over year. The metric topped the Zacks Consensus Estimate by 1.1%. Net investment income fell 2.4% year over year to $6.5 million due to lower average investable assets, partly offset by a higher book yield. The reported figure missed the Zacks Consensus Estimate by 1.1%. Fee and other income more than doubled year over year, rising 102.8%.
Total expenses escalated 15.8% year over year to $73.7 million due to higher loss and loss adjustment expenses incurred, and underwriting and other operating costs.
AMERISAFE’s pre-tax underwriting profit amounted to $3.6 million, which fell 37.9% year over year. Operating net income of $8.3 million declined 17.9% year over year in the reported quarter.
The net combined ratio deteriorated 370 basis points year over year to 95.4%. The Zacks Consensus Estimate was pegged at 92.6%.
AMSF’s Q2 Financial Update
AMERISAFE exited the second quarter with cash and cash equivalents of $65.5 million, up from $61.9 million at the end of 2025. Total assets edged down to $1.127 billion from $1.130 billion at the end of 2025.
Shareholders’ equity decreased to $250 million from $251.6 million at the end of 2025.
Book value per share was $13.49, down 3.4% year over year. Return on average equity improved 230 basis points year over year to 23.5%.
Capital Deployment Update
AMERISAFE bought back common shares worth $5.6 million during the second quarter. As of June 30, 2026, $7.3 million remained under its share buyback program.
Management approved a quarterly cash dividend of 41 cents per share, which will be paid on Sept. 25, 2026, to its shareholders of record as of Sept. 11.
AMSF’s Zacks Rank & Key Picks
AMSF currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader finance space are Trupanion, Inc. TRUP, Cincinnati Financial Corporation CINF and The Hanover Insurance Group, Inc. THG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Trupanion is set to report second-quarter 2026 results on Aug. 5, after the market closes. The Zacks Consensus Estimate for earnings is pegged at 11 cents per share, which has remained stable over the past 60 days. The company's earnings beat estimates in three of the trailing four quarters and missed once, with the average surprise being 250%. The consensus estimate for Trupanion’s second-quarter revenues is pinned at $389.65 million, indicating a 10.2% year-over-year increase.
Cincinnati Financial is set to report second-quarter 2026 results on July 27, after the market closes. The Zacks Consensus Estimate for earnings is pegged at $1.82 per share, which has witnessed two upward revisions over the past 60 days, with no movement in the opposite direction. The company's earnings beat estimates in each of the trailing four quarters, with the average surprise being 27.5%. The consensus mark for Cincinnati Financial’s second-quarter revenues is pinned at $3.01 billion.
The Hanover Insurance is set to report second-quarter 2026 results on July 28, after the market closes. The Zacks Consensus Estimate for earnings is pegged at $3.88 per share, which has witnessed one upward revision in the past 60 days, with no movement in the opposite direction. The company's earnings beat estimates in each of the trailing four quarters, with the average surprise being 28.5%. The consensus estimate for Hanover Insurance’s second-quarter revenues is pinned at $1.73 billion.
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AMERISAFE, Inc. (AMSF): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).