Auto physical damage written premiums were up 6.5% but direct losses grew 25.1% over pandemic influenced 2020. Despite experiencing an underwriting loss, the property/casualty insurance industry ended 2021 strong and able to support policyholders, according to a report from Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property Casualty Insurance Association (APCIA). In […]
Copart Reports Revenue of $939.9 Million in Fiscal Third Quarter
Copart, Inc. (NASDAQ: CPRT) reported revenue for the quarter ended April 30 was $939.9 million, an increase of $206.0 million, or 28.1%, from the same period last year. Gross profit was $436.3 million, an increase of $54.9 million, or 14.4%. Net income was $278.6 million, a decrease of $8.2 million, or 2.9% from last year. […]
Boyd Group Reports Sales of $556.8 Million in First Quarter, Up 32% Compared to Last Year
Continuing industry labor shortage and parts supply issues constrain growth. Company reports an unprecedented number of insurers increasing labor rates in response to wage and cost inflation. Boyd Group Services Inc. (TSE:BYD) today announced sales of $556.8 million for the first quarter ended March 31, up 32% from $421.6 million in the same period of […]
CCC Reports Revenue of $186.8 Million in First Quarter
Revenue was up 18% from last year. CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) announced total revenue was $186.8 million for the first quarter of 2022 that ended March 31, an increase of 18% from $157.8 million for the first quarter of 2021. Gross profit on a generally accepted accounting principles (GAAP) basis was $137.4 million, […]
Uni-Select Reports First Quarter Sales Up 10.7% to $409.6 million
FinishMaster US segment had 9.2% organic growth in quarter. Uni-Select Inc. (TSE:UNS) today reported consolidated sales of $409.6 million for the first quarter ended March 31, up $39.5 million or 10.7% from the first quarter of 2021. The sales increase was driven by organic growth of 11.6%, with all three segments reporting positive organic growth, […]
Berkshire Hathaway Reports GEICO Collision Claims Frequency Up 15-16% in First Quarter Compared to Last Year
Reports underwriting loss in quarter as losses and loss adjustment expense were up over 32%. Berkshire Hathaway reported its first quarter 2022 earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company, GEICO premiums written in the first quarter of 2022 were $10.265 billion, an increase […]
Axalta Reports Sales Up 10.4% in First Quarter Compared to Last Year
Refinish sales up 15.6% compared to 2021 and volume up 4%. Axalta Coating Systems Ltd. (NYSE:AXTA) reported net sales of $1,174.1 million for its first quarter ended March 31, an increase of 10.4% year-over-year, including a 3.0% foreign currency offset. The year-over-year growth was driven by 8.8% higher average price-mix, a 3.6% M&A benefit, and […]
LKQ Corporation Reports Revenue of $3.3 Billion in First Quarter
LKQ Corporation (NASDAQ:LKQ) today reported revenue for the first quarter of 2022 was $3.3 billion, an increase of 5.6% as compared to $3.2 billion in the first quarter of 2021. Parts and services organic revenue increased 6.9% (5.6% on a per day basis), while the net impact of acquisitions and divestitures increased revenue by 1.7% […]
Driven Brands Reports Revenue of $468.3 Million in First Quarter
Revenue up 42% compared to last year. System-wide revenue was $1.3 billion. Driven Brands Holdings Inc. (NASDAQ:DRVN) today reported revenue was $468.3 million, an increase of 42% versus the prior year for its first quarter ended March 26. For the first quarter, system-wide sales were $1.3 billion, an increase of 26% versus the prior year, […]
PPG Reports First Quarter Net Sales of $4.3 billion
Overall sales up 11% over 2021. Inflation drives raw material costs up 25% year-over-year. PPG (NYSE:PPG) reported April 21 that it had record first quarter net sales of $4.3 billion for the first quarter 2022. The result was 11% higher than the previous year. Sales were up due to higher selling prices (+10%), lower sales […]
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