The Boyd Group (TSE: BYD.UN), the multiple collision repair facility operator and glass service provider, reported its financial results for both the fourth quarter of 2015 and the full year yesterday. The company also provided guidance for 2016 and a long-term projection of future growth. For the year, sales increased by 39.1 percent to CA$1.2 […]
Ratings Agency Reports U.S. Property/Casualty Insurers’ Operating Profitability Declined in 2015
U.S. Property/casualty insurers’ operating earnings decreased in 2015, highlighting the competitive operating environment and low investment yields that challenge insurers’ earnings growth potential, according to a new report by Fitch Ratings. Favorable reserve development and limited catastrophic loss activity helped to offset sluggish investment income. Fitch’s universe of 45 (re)insurance organization reported an aggregate a […]
State Farm Reports $6.2B Net Income in 2015, Up 47.6% from 2014
Realized capital gains drive net income growth. Auto insurance earned premiums up $1 billion in 2015 versus 2014. Auto underwriting loss widens. The State Farm property-casualty (P-C) companies reported total revenue, which includes premium revenue, earned investment income, and realized capital gains (losses), was $75.7 billion for 2015 compared with $71.2 billion for 2014. State […]
LKQ Reports Revenue Growth of 6.7% in 2015
The collision repair industry part supplier surpassed $7 billion in annual revenue for the first time in 2015. The LKQ Corporation (NASDAQ:LKQ) today announced results for its fourth quarter and full year ended December 31, 2015. For the fourth quarter of 2015, revenue was $1.75 billion compared with $1.68 billion for the fourth quarter of […]
Copart Reports Revenue Up 8.5%
Copart, Inc. (NASDAQ:CPRT) reported financial results for its fiscal second quarter ended January 31. For the quarter, revenue was $299.7 million, representing an increase in revenue of $23.4 million, or 8.5 percent. Gross margin was $124.6 million, an increase of $9.7 million, or 8.5 percent. Net income was $59.0 million, an increase in of $6.8 […]
KAR Acquires Eight Brasher’s Auto Auctions, Announces Earnings
KAR Auction Services, Inc. (NYSE: KAR) announced that its subsidiary, ADESA, Inc., has signed a definitive agreement to acquire eight auctions owned by the Brasher family. Brasher’s eight locations are: Brasher’s Salt Lake, Brasher’s Sacramento, Brasher’s Portland, Brasher’s Boise, Brasher’s San Jose, Brasher’s Northwest, Brasher’s Reno and Brasher’s Fresno. Brasher’s key corporate and local auction […]
Uni-Select Reports Growth in Paint Sales
Parent of FinishMaster reports growth in refinish sales for both the fourth quarter and full year. Uni-Select Inc. the distributor automotive refinish and industrial paint and related products across North America, as well as in the automotive aftermarket parts business in Canada, reported financial results with increased EBITDA margins for the fourth quarter ended December […]
Property/Casualty Insurers More Profitable in First Nine-Months of 2015
Net written premiums and investment income both up. Profitability measure grows 1.2 percentage points. Private U.S. property/casualty insurers’ net income after taxes grew to $44.0 billion in the first nine months of 2015 from $37.8 billion in nine-months 2014, with insurers’ overall profitability as measured by their rate of return on average policyholders’ surplus growing […]
Axalta Releases Fourth Quarter and Full Year 2015 Financial Results
Axalta Coating Systems Ltd. (AXTA) reported fourth quarter net sales of $1.0 billion, a 4.5 percent year-over-year increase before the impact of unfavorable foreign currency translation of 11.5 percent. Sales decreased 7.0 percent on an as-reported basis. For the quarter ended December 31, 2015, adjusted EBITDA was $212.8 million up 4.0 percent compared to 2014 […]
Allstate Reports Growth in Auto Premiums Written in 2015
While premiums are growing, so are auto accidents. The Allstate Corporation (ALL) yesterday reported financial results for the fourth quarter and full year 2015. Auto insurance net premiums written for all three brands, Allstate, Esurance and Encompass, grew 5.1 percent to $20.7 billion in 2015 versus $19.7 billion in 2014. Allstate brand auto, the largest […]