Palomar

Q2 FY2026 EarningsQ2 FY26 results beat consensus across most key metrics, with Diluted Adjusted EPS of $2.36 exceeding the $2.21 expectation and GAAP Net Income of $52.6M beating the $47.1M mean. Underwriting revenue of $287.7M was essentially in-line with consensus. The performance was driven by a 27.0% YoY surge in Gross Written Premiums, particularly in Casualty (+36.8% YoY) and Surety & Credit (+235.6% YoY) following the Gray Surety acquisition. Management's declaration of a first-ever cash dividend of $0.45/share further reinforces a strong capital position despite higher attritional loss ratios in the Crop segment.