Quarterly ResultMay 8, 2026, 04:13 PM
NI Holdings Q1 Net Income Jumps 93.6% to $12.5M; EPS $0.60
AI Summary
NI Holdings, Inc. reported a substantial increase in net income and earnings per share for the first quarter of 2026, primarily driven by a significant reduction in losses and loss adjustment expenses. Net income jumped 93.6% to $12.5 million, with basic EPS rising to $0.60. This positive performance occurred despite a decrease in net premiums earned and total revenues, reflecting improved underwriting results. The company also saw an increase in total shareholders' equity and continued its share repurchase program.
Key Highlights
- Net income for Q1 2026 increased 93.6% to $12.5 million from $6.5 million in Q1 2025.
- Basic earnings per common share rose 93.5% to $0.60 in Q1 2026 from $0.31 in Q1 2025.
- Net premiums earned decreased 18.4% to $55.1 million in Q1 2026 from $67.5 million in Q1 2025.
- Total revenues decreased 16.6% to $59.6 million in Q1 2026 from $71.4 million in Q1 2025.
- Losses and loss adjustment expenses significantly decreased by 39.4% to $23.4 million.
- Total shareholders' equity increased 4.1% to $250.2 million as of March 31, 2026.
- The company purchased $861 thousand of treasury stock during Q1 2026.