The Baldwin Group in Florida reports $ 20 million fourth quarter loss, Universal has achieved 6 million US dollars profit

Two large, publicly traded Florida insurance companies gained the profit in the fourth quarter, with the Baldwin Insurance Group, Inc. (Bwin) found a loss of $ 20.2 million in the fourth quarter.

On the basis of per share, the insurance agency and brokerage based in Tampa announced that it had a loss of 31 cents. The result that was adjusted for one -off profits and costs was 27 cents per share.

The results exceeded the expectations of Wall Street. The average estimate of five analysts surveyed by Zack's Investment Research was the result of 25 cents per share. The net loss was an improvement in the fourth quarter of 2023 of 34 million US dollars.

The company generated sales of USD 329.9 million in the reporting period, compared to the fourth quarter of 2023 and through street forecasts. Four analysts surveyed by Zacks expected 327.6 million dollars.

For the year, the company reported that its loss was reduced to USD 24.5 million or 39 cents per share. The turnover was reported at 1.39 billion US dollars.

The shares of the Baldwin Insurance Group have increased by about 3% since the beginning of the year. In the last minutes of retail on Tuesday, the shares reached $ 39.86, which has increased by 51% in the past 12 months.

In the meantime, Universal Insurance Holdings Inc. (UVE) reported a profit of 6 million US dollars in the fourth quarter.

On the basis of per share, the company based in Fort Lauderdale, Florida, gave a profit of 21 cents. The result that was adjusted for non -repeated costs was 25 cents per share.

The real estate and accident insurance company generated sales of $ 384.8 million in the reporting period.

For the year, the company made a profit of $ 58.9 million or USD 2.01 per share. The turnover was reported at 1.52 billion US dollars.

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Loss of profit Florida