Highlights

  • Third quarter Net Income was USD 7,196 thousand against USD 13,818 thousand.
  • Diluted earnings per share were USD 0.39 against USD 0.72.
  • Net premiums earned rose 3% to USD 73.3 million.
  • The current accident year loss ratio remained at 72%.

AMERISAFE, Inc. (NASDAQ:AMSF) shares were trading near their 52-week low at USD 19.76 on November 6, 2026, down 2.80% on the day. The workers' compensation insurer reported third quarter net income of USD 7,196 thousand, or USD 0.39 per diluted share, against USD 13,818 thousand, or USD 0.72.

AMERISAFE has a market Capitalization of about USD 366.21 million at the current price and a price to earnings ratio of 9.20. It is a Holding Company that markets and underwrites workers' compensation insurance through its insurance subsidiaries.

Third Quarter Results

Total revenues were USD 79,812 thousand against USD 81,976 thousand, and total expenses were USD 70,814 thousand against USD 64,495 thousand. Net income was USD 7,196 thousand against USD 13,818 thousand. Basic Earnings Per Share were USD 0.39 against USD 0.73, and Diluted Earnings per Share were USD 0.39 against USD 0.72.

Management said net premiums earned increased 3% to USD 73.3 million from USD 71.2 million, despite unfavorable audit and related premium adjustments in the quarter. It said the current accident year loss ratio remained at 72% and that net Investment income was USD 6.6 million, up 0.6%.

Nine-Month Results

Total revenues were USD 251,873 thousand against USD 235,661 thousand, and total expenses were USD 214,450 thousand against USD 189,504 thousand. Net income was USD 29,936 thousand against USD 36,722 thousand, and diluted earnings per share were USD 1.60 against USD 1.92. The company recognized USD 6.3 million of net unrealized gains on Equity securities against USD 2.8 million.

Investments, Buybacks and Outlook

Management said the company held approximately USD 753 million in investments, cash and cash equivalents at quarter end. Its equity holdings recorded an unrealized loss of USD 0.2 million against a USD 4.1 million gain a year earlier. During the quarter it repurchased about 5,000 shares at an average price of USD 30.18, a USD 0.2 million return to shareholders. On pricing, management said it still looks to a 5% to 6% range of loss cost declines going into the 2027 premium year.

Cash Flow and Balance Sheet

Cash and cash equivalents were USD 39,678 thousand against USD 61,926 thousand at December 31, 2025. For the nine months, net cash provided by Operating Activities was USD 1,943 thousand against USD 447 thousand, and net cash provided by investing activities was USD 9,493 thousand against USD 37,684 thousand.

Total Assets were USD 1,110,037 thousand against USD 1,130,544 thousand. Total liabilities were USD 872,784 thousand against USD 878,946 thousand, and total shareholders' equity was USD 237,253 thousand against USD 251,598 thousand. There were 18,533,019 shares outstanding as of October 16, 2026.