Fourth Quarter 2024 Financial Highlights
Verisk, a global data analytics and technology provider, has reported consolidated revenues of $736 million for the fourth quarter of 2024. This figure was up 8.6% on a consolidated and an organic constant currency (OCC) basis, with solid growth contributions from both underwriting and claims within Insurance.
Underwriting revenues increased 6.8% in the quarter and 7.0% on an OCC basis. This growth was mainly due to the company’s forms, rules, and loss cost services and extreme event solutions. Specialty business and life solutions also contributed to the growth.
Claims revenue grew 13.0% in the quarter and 12.7% on an OCC basis, mainly driven by growth in the firm’s property estimating solutions and anti-fraud solutions.
Income from continuing operations was $204 million, up 11.6% for Q4 2024. Adjusted EBITDA, a non-GAAP measure, was $398 million, up 9.9%, and up 13.5% on an OCC basis.
Diluted GAAP earnings per share from continuing operations were $1.44 in Q4, up 15.2%, while diluted adjusted earnings per share from continuing operations, a non-GAAP measure, were $1.61, up 15.0%.
Full Year 2024 Financial Highlights
For the full year 2024, Verisk reported consolidated revenues of $2,882 million, up 7.5% and up 7.1% on an OCC basis.
Income from continuing operations was $951 million, up 23.7%, while adjusted EBITDA was $1,576 million, up 9.9%, on a consolidated and OCC basis.
For the full year 2024, diluted EPS attributable to Verisk were $6.66, up 27.6%, and diluted adjusted EPS were $6.64, up 16.3%.
Net cash provided by operating activities was $1,144 million, up 7.9%, and free cash flow was $920 million, up 10.8%.
CEO Commentary
Lee Shavel, president and CEO of Verisk, commented: “Verisk delivered strong fourth quarter results capping off another year of strong top-line growth and margin improvement. We enter 2025 with strong momentum and are energized by the opportunities arising from our strategic engagement with clients. We remain committed to executing our strategy focusing on investing in new innovations and technologies that deliver value to the insurance ecosystem and support growth and returns for Verisk and all our stakeholders.”
