AMERISAFE Q2 Earnings Miss Estimates on Lower Underwriting Profit

Core Insights - AMERISAFE, Inc. (AMSF) reported second-quarter adjusted earnings per share of 53 cents, missing the Zacks Consensus Estimate by 3.6% and reflecting an 8.6% year-over-year decline [1][8] - Operating revenues reached $76.1 million, showing a slight year-over-year increase but falling short of the consensus mark by 1.5% [1][8] Financial Performance - Net premiums earned increased by 1.1% year over year to $69.4 million, but were below the Zacks Consensus Estimate of $70.5 million, supported by strong retention rates and new business growth [3] - Net investment income dropped 10.2% year over year to $6.7 million due to reduced investable assets, although it exceeded the consensus estimate of $6.6 million [3] - Pre-tax underwriting profit was reported at $5.7 million, down 12.2% year over year [4] - Total expenses rose by 2.5% year over year to $63.6 million, driven by higher loss and loss adjustment expenses [4][8] - Operating net income decreased by 9.7% year over year to $10 million [4] Ratios and Metrics - The net combined ratio was 91.7%, worsening by 120 basis points year over year and exceeding the consensus estimate of 90.5% [5] - Return on average equity improved by 660 basis points year over year to 21.2% [6] Capital Management - AMERISAFE repurchased 62.8 thousand common shares for $2.8 million in the second quarter and reauthorized a $25 million share repurchase program [7] Dividend Announcement - A quarterly cash dividend of 39 cents per share was announced, scheduled for payment on September 26, 2025, to shareholders of record as of September 12 [9]