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U.S. Property/Casualty Insurers Preliminary First Quarter Results Show 24% Underwriting Income Increase

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While AM Best analysis of interim financial reports shows improvement in income, loss and loss adjustment expense increased during the quarter. The U.S. property/casualty (P/C) industry posted net underwriting income of $4.2 billion in first-quarter 2019, according to preliminary financial results, a 24.0 percent increase from the first quarter of 2018. This financial review is […]

Boyd Group Reports Same Store Sales Up 5.3 percent in First Quarter

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On a day adjusted basis, same store sales were up 6.6 percent. Overall sales increased by 23.1 percent over 2018. Boyd Group Income Fund (TSE:BYD.UN) today reported its first quarter sales increased by 23.1 percent to CA$557.9 million ($415.47 million) from CA$453.3 million ($337.57 million) in 2018, including same-store sales growth of 5.3 percent. Same […]

Universal Technical Institute Reports Revenue Up 1.3%

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New student starts were up 11.2 percent for the fiscal second quarter and 12.7 percent year to date. Universal Technical Institute, Inc. (NYSE: UTI) reported revenues increased 1.3 percent to $81.7 million, driven by higher average full-time enrollment in its fiscal 2019 second quarter ended March 31. The increase occurred despite one less earning day […]

KAR Auction Services  Reports First Quarter Revenue Up 10%

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CEO says firm advancing proposed spin-off of Insurance Auto Auctions. KAR Auction Services, Inc. (NYSE: KAR) reported its first quarter revenue of $1.0468 billion as compared with revenue of $950.5 million for the first quarter of 2018, an increase of 10 percent. Net income for the first quarter of 2019, ended March 31, decreased 14 […]

U.S. Property-Casualty Insurers Report 66% Increase in Net Income in 2018

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Results driven by growth in premiums and decline in catastrophe losses. Private U.S. property/casualty insurers saw their net income after taxes rise to $60 billion in 2018 from $36.1 billion in 2017—a 66.3 percent increase—helped by double-digit premium growth and a significant decline in catastrophe losses, according to Verisk (NASDAQ:VRSK) and the American Property Casualty […]

Uni-Select Reports 2019 First Quarter Sales of $420 Million

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Finishmaster US reports organic growth of 3.1 percent. Uni-Select Inc. (TSE:UNS) today reported sales of $420 million for the first quarter ended March 31, down from $422 million in the first quarter of 2018 but up 2.5 percent organically. The company reported earnings before interest, taxes, depreciation and amortization (EBITDA) of $21.356 million, down from […]

LKQ Reports First Quarter Sales of $3.1 Billion

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Overall parts and service growth 15.2 percent, organic revenue growth just 0.1 percent. LKQ Corporation (Nasdaq:LKQ) today reported revenue for the first quarter of 2019 of $3.1 billion, an increase of 14 percent as compared to $2.7 billion in the first quarter of 2018. For the first quarter, parts and services organic revenue growth was […]

Axalta Reports First Quarter Sales Down on Foreign Currency Impact

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Refinish sales down 2.1 percent, but were up 3.5 percent on constant currency basis. Axalta Coating Systems Ltd. (NYSE: AXTA) announced that net sales for its first quarter ending March 31 of $1,119.3 million decreased 4.5 percent year-over-year including a 4.8 percent negative foreign currency impact. Constant currency net sales increased 0.3 percent in the […]

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