Kingstone Sees FY24 Diluted EPS $1.30-$1.60; FY25 Diluted EPS $1.45-$1.85
Kingstone Sees FY24 Diluted EPS $1.30-$1.60; FY25 Diluted EPS $1.45-$1.85
Guidance
指导
As previously announced, net income per share for 2024 and 2025 are expected to increase significantly, and we have raised our guidance for the last three consecutive quarters. Beginning with the second quarter of 2024, we began providing guidance using basic shares and followed that practice in the third quarter of 2024. We are providing additional context to net income per share guidance by disclosing these metrics, using both basic and fully diluted share counts, and will disclose both metrics going forward. Other than the inclusion of guidance as to net income per share - diluted, the below guidance is the same as what was included in last week's earnings press release.
正如之前所宣布的，预计2024年和2025年的每股净利润将显著增加，并且我们已连续三个季度提升了我们的指导意见。从2024年第二季度开始，我们开始使用基本股份提供指导，并在2024年第三季度继续这一做法。我们通过披露这些指标，提供每股净利润指导的额外上下文，使用基本和完全稀释的股份数，并将在未来披露这两个指标。除了包括每股净利润 - 稀释版的指导外，以下指导与上周的财报新闻稿中包含的内容相同。
| Guidance Metrics | 2024E | 2025E |
| Core Business1 direct premiums written growth2 | 25% to 35% | 15% to 25% |
| Combined ratio | 79% to 83% | 82% to 86% |
| Net income per share - basic | $1.40 to $1.70 | $1.60 to $2.00 |
| Net income per share - diluted | $1.30 to $1.60 | $1.45 to $1.85 |
| Return on equity | 32% to 26% | 24% to 32% |
| 指导指标 | 2024E | 2025E |
| 核心业务1 直接保费书写增长2 | 25% 到 35% | 15% 到 25% |
| 综合比率 | 79% 到 83% | 82% 到 86% |
| 每股净利润-基本 | $1.40 到 $1.70 | $1.60 到 $2.00 |
| 每股净利润-摊薄 | $1.30 到 $1.60 | $1.45 到 $1.85 |
| 净资产收益率 | 32% 到 26% | 24%到32% |
1Kingstone refers to New York business as its "Core" business and business outside of New York as its "Non-Core" business.
金石保险将纽约的业务称为其"核心"业务，而将纽约以外的业务称为其"非核心"业务。
2Core direct premiums written is not based on GAAP. Direct premiums written represent the total premiums charged on policies issued by the Company during the respective fiscal period. Net premiums earned is the most directly comparable GAAP measure to direct premiums written. -
2Core直接书写的保费不基于GAAP。直接书写的保费代表公司在各自财政期间发行的保单上收取的总保费。净保费收入是与直接书写保费最直接可比的GAAP指标。-
The following reflects the impact of dilution to total shares outstanding for the nine months ended September 30, 2024 and full-year 2024/2025 guidance:
以下反映了截至2024年9月30日的九个月内对流通股总数稀释的影响及2024/2025全年的指导：
|
Common Stock Metrics (shares in millions) |
Nine Months Ended September 30, 2024 | 2024E | 2025E |
| Weighted average shares outstanding - basic | 11.1 | 11.6 | 12.5 |
| Weighted average shares outstanding - diluted | 12.3 | 12.3 | 13.4 |
| Total shares outstanding as of end of period - basic | 12.3 | 12.4 | 12.6 |
| Total shares outstanding as of end of period - diluted | 13.8 | 13.8 | 14.0 |
| All changes to total shares outstanding - basic and diluted assumed for 2024 and 2025 are primarily from the vesting of restricted shares pursuant to arrangements currently in effect and do not reflect any increases that may result from stock issuances in capital-raising transactions. | |||
|
普通股指标 (单位：百万股) |
截至2024年9月30日的九个月 | 2024E | 2025E |
| Weighted average shares outstanding - basic | 11.1 | 责任范围 | 12.5 |
| 期末按普通股股份加权平均计算的股本 | 12.3 | 12.3 | 13.4 |
| 截至期末的总流通股份 - 基本 | 12.3 | 12.4 | 12.6 |
| 截至期末的总流通股份 - 稀释后 | 13.8 | 13.8 | 14.0 |
| 2024年和2025年对总流通股份的所有变动 - 基本和稀释假定主要来源于当前有效安排下限制性股票的归属，不反映可能由于融资交易中的股票发行而导致的任何增加。 | |||
