CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) reported total revenue was $227.2 million for the first quarter of 2024 ended March 31, an increase of 11% from $204.9 million for the first quarter of 2023. “CCC delivered strong first quarter results, highlighted by 11% year-over-year revenue growth and 41% adjusted EBITDA margin –both above our […]
LKQ Reports Revenue of $3.7 Billion in First Quarter
Overall revenue up 11%, but organic revenue was lower as record warm weather in U.S. negatively impacted repairable claims volume. LKQ Corporation (NASDAQ: LKQ) today reported revenue for the first quarter of 2024 was $3.7 billion, an increase of 10.6% compared to $3.3 billion for the first quarter of 2023. For the first quarter of […]
PPG Reports First Quarter Sales of $4.3 Billion
Refinish sales flat compared to strong quarter in the previous year. PPG (NYSE:PPG) reported net sales of $4.311 billion for the for the first quarter 2024, down 2% from $4.380 billion in the first quarter last year. Net income was $400 million, up 52% from 264 million in the first quarter last year. According to […]
Underwriting Losses Persist in US Property/Casualty Industry Total $21.2 Billion in 2023
The U.S. property/casualty (P/C) industry recorded a $21.2 billion net underwriting loss in 2023, slightly improving upon the $24.9 billion loss recorded in 2022, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, First Look: 2023 US Property/Casualty Financial Results, and the data is derived […]
Boyd Group Reports Sales of $2.9 Billion in 2023
Overall sales were up 21.1% compared to 2022. Added 106 new locations during the year. Boyd Group Services Inc. (TSE: BYD) today announced sales increased by 21.1% to $2.9 billion, up from $2.4 billion in 2022. Same-store sales increased 15.8% during the year. Fiscal 2023 recognized one less selling and production day when compared to […]
State Farm Reports $14.1 Billion Underwriting Loss in 2023
Second year in a row reporting record underwriting loss on increased severity and catastrophe losses. In 2023, State Farm property and casualty insurance companies experienced growth in policies while also reporting record underwriting losses due to continued elevated claims severity and significant catastrophe activity, for both the auto and homeowners insurance companies. The State Farm […]
CCC Reports 2023 Revenue of $866 Million
Full year revenue up 11% versus previous year. CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) reported total revenue was $866.4 million for the full year of 2023, an increase of 11% from $782.4 million in 2022. For the fourth quarter, total revenue was $228.6 million up 12% from $204.1 million for the fourth quarter of […]
GEICO Reports Underwriting Profit of $3.6 Billion
Loss ratio was 81% in 2023, down 12.1 percentage points from the previous year when the company reported a $1.88 billion pre-tax underwriting loss. Berkshire Hathaway reported its 2023 earnings on February 24, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings in […]
Driven Brands Reports Revenue Up 13% to $2.3 Billion for 2023
Revenue increase result of 7% same-store sales growth and 4% net store growth. Paint, Collision & Glass segment same store sales up 6.4%. Driven Brands Holdings Inc. (NASDAQ: DRVN) announced revenue the fiscal year ended December 30, 2023 of $2.3 billion, up 13% versus the prior year. System-wide sales were $6.3 billion, up 12% versus […]
LKQ Reports Revenue of $3.5 Billion in Fourth Quarter
Quarterly revenue up over 16% and full year revenue up more than 8% compared to 2022. LKQ Corporation (NASDAQ:LKQ) today reported fourth quarter revenue of $3.5 billion, a 16.6% increase compared to $3.0 billion for the same period of 2022. Annual revenue was $13.9 billion, an 8.4% increase compared to $12.8 billion for the full […]
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