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
指導
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.
正如之前所宣佈的，預計2024年和2025年的每股淨利潤將顯著增加，並且我們已連續三個季度提升了我們的指導意見。從2024年第二季度開始，我們開始使用基本股份提供指導，並在2024年第三季度繼續這一做法。我們通過披露這些指標，提供每股淨利潤指導的額外上下文，使用基本和完全稀釋的股份數，並將在未來披露這兩個指標。除了包括每股淨利潤 - 稀釋版的指導外，以下指導與上週的業績新聞稿中包含的內容相同。
| 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% |
| 指導指標 | 2024E | 2025E |
| 核心業務1 直接保費書寫增長2 | 25% 到 35% | 15% 到 25% |
| 綜合比率 | 79% 到 83% | 82% 到 86% |
| 每股淨利潤-基本 | $1.40 到 $1.70 | $1.60 到 $2.00 |
| 每股淨利潤-攤薄 | $1.30 到 $1.60 | $1.45 到 $1.85 |
| 淨資產收益率 | 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.
金石保險將紐約的業務稱爲其"核心"業務，而將紐約以外的業務稱爲其"非核心"業務。
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直接書寫的保費不基於GAAP。直接書寫的保費代表公司在各自財政期間發行的保單上收取的總保費。淨保費收入是與直接書寫保費最直接可比的GAAP指標。-
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日的九個月內對流通股總數稀釋的影響及2024/2025全年的指導：
|
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. | |||
|
普通股指標 (單位：百萬股) |
截至2024年9月30日的九個月 | 2024E | 2025E |
| Weighted average shares outstanding - basic | 11.1 | 責任範圍 | 12.5 |
| 期末按普通股股份加權平均計算的股本 | 12.3 | 12.3 | 13.4 |
| 截至期末的總流通股份 - 基本 | 12.3 | 12.4 | 12.6 |
| 截至期末的總流通股份 - 稀釋後 | 13.8 | 13.8 | 14.0 |
| 2024年和2025年對總流通股份的所有變動 - 基本和稀釋假定主要來源於當前有效安排下限制性股票的歸屬，不反映可能由於融資交易中的股票發行而導致的任何增加。 | |||
