Verisk Analytics Stock Price, News & Analysis

Scepter, Inc. is set to launch methane-detecting stratospheric balloons in Texas' Permian Basin in January 2023. This first-of-its-kind initiative aims to gather real-time data on methane emissions from oil and gas operations. The balloons can identify intermittent leaks that traditional methods miss, providing enhanced monitoring capabilities. The project is a collaboration with Atmospheric and Environmental Research, a Verisk subsidiary, which will analyze the data. Scepter plans further expansion into Asia and the Middle East by 2023, with future satellite monitoring in 2024, following supportive regulations from the Biden Administration.

Wood Mackenzie has launched Lens Gas & LNG, a new data analytics solution for the natural gas and LNG sector. This tool integrates global market and asset analysis, enhancing operational planning and strategic management. According to Andrew Pearson, its Global Head, it supports various functions including M&A and trading. The solution addresses recent industry shifts by providing integrated market forecasting and modelling workflows. This innovation aims to help energy market participants navigate complexities in supply, demand, and pricing.

Verisk (Nasdaq: VRSK) will have its CEO, Lee Shavel, and CFO, Elizabeth Mann, participate in the J.P. Morgan Ultimate Services Investor Conference on November 17, 2022, at 11:10 a.m. ET. The event will be a fireside chat format and will be available for live webcast through Verisk's Investor Relations page.

Verisk provides data-driven insights for the insurance and energy sectors, enhancing operational efficiency and decision-making.

Wood Mackenzie is hosting the Grid Edge Innovation Summit in Phoenix, Arizona on December 6-7, 2022. This event will gather industry leaders from Shell Recharge Solutions, Exelon, BMW, and General Motors to discuss electrification and grid modernization. Key topics include EV infrastructure ownership models, grid resilience, and distributed energy resource management systems.

Attendees will gain insights from experts and connect with professionals in energy services and electric vehicles.

Verisk reported third-quarter 2022 results with consolidated revenues of $745.3 million, a 1.8% decline largely due to the sale of its environmental health and safety business and the suspension of operations in Russia. Net income diminished 6.1% to $189.4 million, while adjusted EBITDA increased 1.2% to $383.5 million. Diluted EPS was $1.20, down 3.2%, but diluted adjusted EPS rose 1.4% to $1.46. The company repurchased $300 million worth of shares and approved a 31-cent dividend for December 30, 2022.

Verisk (Nasdaq: VRSK) has announced the sale of its Energy business, Wood Mackenzie, to Veritas Capital for $3.1 billion in cash, plus up to $200 million contingent consideration. This strategic move aims to enhance shareholder value and focus Verisk on its core role in the global insurance industry. Wood Mackenzie, a leader in energy analytics for nearly 50 years, will continue to innovate under Veritas, which possesses substantial sector expertise. The deal is expected to close in Q1 2023, pending regulatory approvals.

Verisk (Nasdaq: VRSK) is assisting insurers in California to comply with new regulations regarding property coverage in wildfire-prone areas. The California Department of Insurance mandates insurers to incorporate specific wildfire mitigation factors into their rating plans. Verisk has enhanced its FireLine risk assessment solution to include required property-level mitigation measures. They are also updating their ISO Rating Manuals and providing insurers with advisory notices to facilitate compliance. This initiative is supported by collaboration with the National Fire Protection Association.

Insurance Supermarket International Inc. (ISI) has partnered with Verisk to utilize its FAST technology platform, enabling ISI to launch a digital distribution management platform for U.S. agents in just two months. This initiative positions ISI as a preferred supplier for whole life and term products. From initial discussions in May 2022, development began in July, with the distribution management project going live by early September 2022. The collaboration emphasizes rapid deployment and innovation in the life insurance market.