Verisk Analytics Stock Price, News & Analysis

J.B. Hunt Transport Services Inc. (NASDAQ: JBHT) has been awarded Verisk CargoNet's Best in Cargo Security recognition for 2023. This accolade acknowledges J.B. Hunt's exceptional preventive measures, program engagement, and response preparedness in addressing cargo theft. The company achieved a remarkable 99.99% theft-free rate for full loads in 2023.

J.B. Hunt has implemented advanced technology and analytics to detect carrier fraud and prevent cargo theft. The company has also established a 24/7 Security Operation Center for monitoring high-value and high-risk freight. Additionally, J.B. Hunt has enhanced its teams specializing in supply chain security, investigations, and asset protection.

This recognition comes at a time when organized cargo theft has become a major concern for shippers. According to CargoNet, there was a 59% increase in cargo theft events across the United States and Canada in 2023, with an estimated total loss of $331.9 million.

Verisk's Chief Human Relations Officer, Sunita Holzer, has been elected to Liberty Science Center's Board of Trustees. This nonprofit learning center's mission aligns with Verisk's core values of learning and caring, reflecting the company's commitment to innovation and research. Holzer brings nearly 30 years of enterprise-level business leadership experience to the board as an Advisory Trustee.

At Verisk, Holzer leads HR strategy for about 7,500 team members in over 20 countries. The company supports STEM education through various initiatives, including its Data Science Excellence Program. Verisk's workforce includes professionals with backgrounds in predictive analytics, data sciences, mathematics, and engineering. Over the past five years, Verisk employees have contributed to 188 published research papers on topics such as environmental research and catastrophic weather.

Verisk (VRSK) reported strong Q2 2024 financial results, demonstrating the strength of its subscription-based model and cost discipline. Key highlights include:

- Consolidated revenues up 6.2% to $717 million
- Income from continuing operations up 50.7% to $308 million
- Adjusted EBITDA up 8.8% to $397 million
- Diluted EPS up 52.5% to $2.15
- Diluted adjusted EPS up 15.2% to $1.74
- Free cash flow up 14.3% to $154 million

The company maintained its 2024 financial guidance and announced a 15% increase in quarterly dividend to $0.39 per share. Verisk's performance reflects strong subscription growth and operating leverage, positioning it well for future growth opportunities.

Verisk Maplecroft (Nasdaq: VRSK) has launched Asset Risk Exposure Analytics (AREA), a new data solution assessing location-specific risks to assets of over 50,000 publicly traded companies. AREA combines locations of 4 million+ corporate assets with geospatial risk data, featuring 85 individual risk issues mapped to subnational levels. The solution covers 18 political risks, 30 human rights issues, 18 climate hazards, and 19 environmental risks.

AREA aims to reveal hidden vulnerabilities and strengths in global operations of publicly listed firms, providing investors with a comprehensive view of corporate exposure to global climate, environmental, human rights, and political risks. The data is available through an API and is applicable to all equity investing, including sustainable and impact finance.

Verisk (Nasdaq: VRSK) estimates that Hurricane Beryl will cause industry insured losses to onshore property from wind in the U.S. ranging between USD 2 billion to USD 3 billion. Beryl, which formed on June 28, became the earliest Category 5 hurricane on record in the Atlantic before making landfall near Matagorda Bay, Texas on July 8 as a Category 1 hurricane with 80 mph winds.

The storm caused widespread power outages affecting nearly 3 million households in Texas, with over 2.2 million in Harris County alone. These outages may lead to significant claims due to food spoilage, mold, and losses to additional living expenses and business interruption coverages. The estimates exclude various factors such as storm surge losses, National Flood Insurance Program payouts, and litigation-related losses.

Verisk (Nasdaq: VRSK), a key player in global data analytics and technology, is set to release its financial results for the fiscal second quarter of 2024 on July 31, 2024, before the market opens. Results for the quarter ending June 30, 2024, will be posted on the Verisk investor website. A live audio webcast and conference call will be hosted by Verisk's management team at 8:30 a.m. ET on the same day to discuss these results and other business highlights. Interested parties can access the webcast through the Verisk investor website or by dialing specific numbers for U.S./Canada and international participants. A replay of the webcast will be available for 30 days post-event.

Verisk has launched the ISO Experience Index, an innovative tool aimed at modernizing risk pattern analysis for actuaries in the insurance industry. The insurance sector faced unprecedented loss ratios in 2023, with $21.2 billion in underwriting losses. The new index helps insurers assess risk patterns, make informed pricing decisions, and adapt to changing market conditions. It offers quarterly updates, streamlined data adjustments, and consistent methodology across states. Initial metrics focus on Homeowners, with expansion to other lines of business expected. The index revealed a 2.5% rise in Q4 2023, a 3.4% increase from the end of 2022, and a 24.4% rise since 2021.

Verisk (Nasdaq: VRSK) has received multiple awards from Newsweek, Great Place to Work, and Latino Leaders recognizing its efforts in workplace culture, diversity, and sustainability.

Newsweek honored Verisk in three categories: 'America’s Greatest Workplaces for Diversity 2024,' 'America's Greatest Workplaces for Mental Wellbeing 2024,' and 'America's Greenest Companies 2024.' Verisk's environmental stewardship includes lower Scope 1 and 2 emissions and adherence to the Task Force on Climate-related Financial Disclosures (TCFD) framework.

For the eighth consecutive year, Verisk earned the Great Place to Work Certification in the U.S., UK, Spain, Poland, and India. The company’s commitment to employee well-being and an inclusive workplace has played a important role in attracting and retaining top talent.

Latino Leaders recognized Verisk as one of the 'Best Companies for Latinos to Work 2024.' The company supports nine employee resource groups, including the Verisk Unidos Network, promoting Hispanic and Latinx culture.

The Extreme Event Solutions business unit of Verisk (Nasdaq: VRSK) estimates insured losses from flooding in Southern Germany between May 15 and June 5 to be between EUR 2.4 billion (USD 2.6 billion) and EUR 3.6 billion (USD 3.9 billion). The flooding, caused by excessive rainfall, severely impacted Bavaria and Baden-Württemberg, submerging streets, homes, and businesses. Notably, nearly half of all structures in Bavaria and over 90% in Baden-Württemberg are insured for flood damage. The loss estimate includes insured physical damage to residential, commercial, industrial, auto, and agricultural properties, as well as additional living expenses and business interruption claims.