- Revenue from continuing operations grew 5.0%; organic constant currency revenue growth from continuing operations was 4.1%.
- Income from continuing operations increased 13.3% to $121 million; EBITDA from continuing operations increased 3.7% to $254 million.
- Diluted GAAP earnings per share (GAAP EPS) from continuing operations increased 16.1% to $0.72 versus the prior-year quarter; diluted adjusted earnings per share (adjusted EPS) from continuing operations, a non-GAAP measure, increased 12.3% to $0.82.
- Net cash provided by operating activities was $430 million year-to-date, an increase of 11.6%. Free cash flow from continuing operations was $357 million year-to-date, an increase of 14.5%.
- During the quarter Verisk acquired seven leading aerial imagery companies to support its Geomni business, accelerating efforts to create a unique database of property information derived from multi-tier, multi-spectral images.
- The company repurchased $156 million of its shares in the quarter.
Scott Stephenson, chairman, president, and CEO, said, “Second-quarter revenue growth accelerated versus the first quarter, as we saw good progress across the board in our insurance businesses. Profitability remains strong even as we are investing in important opportunities across the verticals we serve.
Of note, today we announced a group of focused acquisitions that position Verisk’s Geomni business as the leading aerial imagery company in the U.S. These acquisitions and associated investments will create a proprietary database to unlock a large addressable market. Self-sourcing the images combined with our expertise in computer-vision-based imagery processing and large-scale data management, accelerates our efforts to meet the needs of our property/casualty insurance and natural resources customers with the required frequency, resolution, and coverage across the United States.