Growth stocks are attractive to many investors, as above-average financial growth helps these stocks easily grab the market's attention and produce exceptional returns. However, it isn't easy to find a great growth stock. In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end. However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Sco ...

RLI Corp. (RLI) is well-poised to gain from a strong product portfolio, rate increases, improved retention, higher premium receipts and sufficient liquidity. Optimistic Growth Projections The Zacks Consensus Estimate for RLI's 2024 earnings per share indicates an increase of 22.5% from the yearago reported number. The consensus estimate for revenues is pegged at $1.67 billion, implying a year-over-year improvement of 18%. The consensus estimate for 2025 earnings per share and revenues indicates an increase ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) RLI Corp. (Exact name of registrant as specified in its charter) Delaware 37-0889946 (I.R.S. Employer Identification Number) (State or other jurisdiction of incorporation or organization) 9025 North Lindbergh Drive, Peoria, IL 61615 (Address of principal executive offices) (Zip Code) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period e ...

RLI Corp. (NYSE:RLI) Q2 2024 Earnings Conference Call July 23, 2024 11:00 AM ET Company Participants Aaron Diefenthaler - Chief Investment Officer and Treasurer Craig Kliethermes - President and Chief Executive Officer Todd Bryant - Chief Financial Officer Jen Klobnak - Chief Operating Officer Conference Call Participants Sid Parameswar - Raymond James Andrew Anderson - Jefferies Scott Heleniak - RBC Meyer Shields - KBW Operator Good morning, and welcome to the RLI Corp Second Quarter Earnings Teleconferenc ...

RLI Corp. (RLI) reported second-quarter 2024 operating earnings of $1.72 per share, beating the Zacks Consensus Estimate by 27.4%. The bottom line improved 48.3% year over year. The quarterly results reflect the continued underwriting-focused business model and the strength of its diversified portfolio. Shares gained 4.8% in the after-market trading session to reflect the outperformance. RLI Corp. Price, Consensus and EPS Surprise Operational Performance Operating revenues for the reported quarter were $413 ...

[Financial Highlights](index=1&type=section&id=Financial%20Highlights) RLI Corp. achieved strong Q2 2024 results, with increased net and operating earnings, driven by premium growth and investment income Q2 2024 Earnings Summary | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Net Earnings (Millions) | $82.0M | $77.7M | | Net Earnings per Share | $1.78 | $1.69 | | Operating Earnings (Millions) | $79.3M | $53.3M | | Operating Earnings per Share | $1.72 | $1.16 | - Gross premiums written increased by **11%** and net investment income grew by **18%** in the second quarter[3](index=3&type=chunk) - Book value per share rose to **$34.64**, marking a **14%** increase (inclusive of dividends) from the end of 2023[3](index=3&type=chunk) - CEO Craig Kliethermes highlighted the excellent results, attributing them to a balanced growth across the product portfolio and a disciplined underwriting approach, particularly in the property segment[14](index=14&type=chunk) [Underwriting Performance](index=1&type=section&id=Underwriting%20Performance) Underwriting income significantly increased to $70.0 million in Q2 2024, with the combined ratio improving to 81.5% Underwriting Income & Combined Ratio by Segment (Q2 2024 vs. Q2 2023) | Segment | Underwriting Income (2024, Millions) | Underwriting Income (2023, Millions) | Combined Ratio (2024) | Combined Ratio (2023) | | :--- | :--- | :--- | :--- | :--- | | Casualty | $10.3M | $7.0M | 95.1% | 96.3% | | Property | $53.2M | $25.9M | 60.3% | 74.6% | | Surety | $6.5M | $8.3M | 81.8% | 75.0% | | **Total** | **$70.0M** | **$41.2M** | **81.5%** | **87.2%** | - Favorable development in prior years' loss reserves contributed a net increase of **$19.8 million** to underwriting income in Q2 2024, compared to **$17.0 million** in Q2 2023[5](index=5&type=chunk) - For the six months ended June 30, 2024, the total underwriting income was **$147.7 million** on a combined ratio of **80.0%**[38](index=38&type=chunk) [Investment and Other Income](index=2&type=section&id=Investment%20and%20Other%20Income) Net investment income grew 18.0% to $34.0 million in Q2 2024, with the investment portfolio achieving a 0.9% total return - Net investment income rose **18.0%** to **$34.0 million** compared to the same period in 2023[28](index=28&type=chunk) - The investment portfolio's total return was **0.9%** for the second quarter and **2.7%** for the six months ended June 30, 2024[28](index=28&type=chunk) [Capital Management and Shareholder Returns](index=2&type=section&id=Capital%20Management%20and%20Shareholder%20Returns) RLI increased its quarterly dividend to $0.29 per share, with cumulative dividends exceeding $819 million over five years - On June 20, 2024, the company paid a regular quarterly dividend of **$0.29 per share**, a **$0.02** increase over the prior quarter[7](index=7&type=chunk) - Cumulative dividends paid over the last five years exceed **$819 million**[7](index=7&type=chunk) [Financial Statements and Data](index=4&type=section&id=Financial%20Statements%20and%20Data) This section provides detailed unaudited financial data for Q2 and H1 2024, including income statements, balance sheets, and non-GAAP reconciliation [Summarized Income Statement](index=5&type=section&id=Summarized%20Income%20Statement) Q2 2024 consolidated revenue grew 9.1% to $416.4 million, with net premiums earned up 17.6% and net earnings rising 5.6% Q2 2024 Income Statement Highlights (in thousands) | Metric | Q2 2024 | Q2 2023 | % Change | | :--- | :--- | :--- | :--- | | Net Premiums Earned | $379,065 | $322,280 | 17.6% | | Net Investment Income | $33,961 | $28,788 | 18.0% | | Consolidated Revenue | $416,442 | $381,862 | 9.1% | | Total Expenses | $314,785 | $287,345 | 9.5% | | Net Earnings | $81,992 | $77,652 | 5.6% | [Summarized Balance Sheet](index=6&type=section&id=Summarized%20Balance%20Sheet) As of June 30, 2024, total assets increased 6.4% to $5.51 billion, and shareholders' equity grew 12.1% to $1.58 billion Balance Sheet Highlights (in thousands) | Metric | June 30, 2024 | Dec 31, 2023 | % Change | | :--- | :--- | :--- | :--- | | Total Investments and Cash | $3,887,349 | $3,676,318 | 5.7% | | Total Assets | $5,511,673 | $5,180,221 | 6.4% | | Total Liabilities | $3,926,966 | $3,766,707 | 4.3% | | Shareholders' Equity | $1,584,707 | $1,413,514 | 12.1% | [Non-GAAP Reconciliation](index=5&type=section&id=Non-GAAP%20Reconciliation) Q2 2024 operating earnings, a non-GAAP measure, increased 48.7% to $79.3 million, adjusted from GAAP net earnings Reconciliation of Net Earnings to Operating Earnings (Q2, in thousands) | Metric | Q2 2024 | Q2 2023 | | :--- | :--- | :--- | | Net Earnings | $81,992 | $77,652 | | Less: Adjustments for securities gains/losses (net of tax) | ($2,700) | ($24,328) | | **Operating Earnings** | **$79,292** | **$53,324** | [Corporate Information and Outlook](index=2&type=section&id=Corporate%20Information%20and%20Outlook) RLI Corp. was recognized as a top-performing insurer for the 34th consecutive year, operating as a specialty insurer with A+ rated subsidiaries - For the **34th consecutive year**, RLI was named a Ward's 50® P&C Top Performer, being the only company to achieve this recognition every year since the list's inception in 1991[9](index=9&type=chunk) - RLI is a specialty insurer serving niche property, casualty, and surety markets, with all its insurance subsidiaries rated **A+ (Superior)** by AM Best Company[21](index=21&type=chunk) - The earnings release contains forward-looking statements, and readers are advised that actual results could differ materially due to various risk factors detailed in the company's SEC filings[20](index=20&type=chunk)

The market expects RLI Corp. (RLI) to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended June 2024. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might influence its near-term stock price is how the actual results compare to these estimates. Zacks Consensus Estimate Estimate Revisions Trend Earnings Whisper Thus, a positive or negative Earnings ESP reading theoretically indi ...

RLI Corp.'s (RLI) strong product portfolio, rate increases, improved retention, higher premium receipts and sufficient liquidity make it worth adding to one's portfolio. The consensus estimate for 2025 earnings per share and revenues indicates an increase of 3.8% and 9.2%, respectively, from the corresponding 2024 estimates. Estimate Revision The Zacks Consensus Estimate for 2024 and 2025 earnings has moved 1.9% and 2.7% north, respectively, in the past 60 days. This should instill investors' confidence in ...

Core Viewpoint - RLI Corp. has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive earnings outlook that may lead to increased stock price [1][3][11] Earnings Estimates and Revisions - The Zacks Consensus Estimate for RLI Corp. is projected at $5.84 per share for the fiscal year ending December 2024, reflecting an 18.2% year-over-year increase [8] - Over the past three months, the Zacks Consensus Estimate for RLI Corp. has risen by 5.4%, indicating a trend of increasing earnings estimates [8] Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with only the top 5% receiving a 'Strong Buy' rating, highlighting RLI Corp.'s strong position [7][9] - The Zacks Rank has a proven track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988, suggesting potential for significant returns [7] Market Implications - The upgrade reflects an improvement in RLI Corp.'s underlying business, which is expected to drive buying pressure and increase the stock price [5][11] - The correlation between earnings estimate revisions and stock price movements is emphasized, indicating that tracking these revisions can be beneficial for investment decisions [6][4]

The Zacks Consensus Estimate for PLMR's 2024 and 2025 earnings implies year-over-year growth of 25.7% and 17.8%, respectively. NMI Holdings has a solid track record of beating earnings estimates in each of the trailing four quarters, the average being 8.60%. In the past year, NMIH has jumped 25.6%. The Zacks Consensus Estimate for NMIH's 2024 and 2025 earnings implies year-over-year growth of 10.6% and 7.6%, respectively. RLI Corp. (RLI) is well-poised to gain from a compelling product portfolio, rate incre ...