Verisk Q1 Profit Falls, Revenue Up

(RTTNews) - Data analytics provider Verisk Analytics, Inc., (VRSK) on Tuesday posted first-quarter net income of $168 million or $1.03 per share, down from $172 million or $1.04 per share in the previous-year quarter.

Adjusted earnings per share rose 5.1 percent to $1.23 from $1.17 a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $1.25 per share in the period. Analysts' estimates, usually, exclude one-time items.

Quarterly revenues climbed 5.3 percent to $726.1 million from $689.9 million in the prior-year period while analysts were looking for revenues of $725.6 million.

The company's Board of Directors approved a cash dividend of $0.29 per share payable on June 30.

Commenting on the results, Lee Shavel, CFO and Group President, said, "Verisk delivered organic constant currency revenue growth of 3.4 percent and organic constant currency adjusted EBITDA growth of 5.2 percent in the first quarter, led by continued strength in our insurance business."