Kingstone Companies, Inc. (KINS) Earnings
Kingstone Companies, Inc. is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.95. KINS has beaten EPS estimates in 3 of its last 11 reported quarters (average surprise +1.9% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 8, 2026 | $-0.26 | $-0.35 | -34.6% | $60M | -10.6% |
| Mar 6, 2026 | $1.05 | $1.08 | +2.9% | $41M | -50.9% |
| Nov 6, 2025 | $0.71 | $0.73 | +2.8% | $56M | -26.1% |
| Aug 7, 2025 | $0.55 | $0.75 | +36.4% | $52M | -1.7% |
| May 8, 2025 | — | $0.17 | — | $50M | +21.1% |
| Mar 13, 2025 | $0.46 | $0.46 | +0.0% | $42M | +17.0% |
| Nov 9, 2023 | $-0.05 | $-0.27 | -440.0% | $34M | +15.5% |
| Aug 10, 2023 | $-0.01 | $-0.06 | -500.0% | $37M | +15.4% |
| May 11, 2023 | $-0.19 | $-0.56 | -194.7% | $37M | +46.2% |
| Nov 14, 2022 | $-0.02 | $-0.35 | -1650.0% | $36M | -31.4% |
| Aug 11, 2022 | $0.14 | $-0.17 | -221.4% | $29M | -38.7% |
| May 12, 2022 | $-0.06 | $-0.54 | -800.0% | $29M | -30.0% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 8, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
First quarter results were driven by 11 winter catastrophe events in the Northeast contributing 26 points to the loss ratio. The underlying business metrics improved with underlying combined ratio, loss ratio, and expense ratio all showing positive changes. New York personal lines business had continued momentum with new business policies growing 19% year over year, average renewal premium up 10%, and retention increasing. Strategic initiatives include planning to enter California in the second quarter on an excess and surplus lines basis, and incorporating Kingston America Insurance Company to write admitted homeowners business in Connecticut in the third quarter. The company's competitive advantages include select product driving low claim frequency, strong producer relationships, operating efficiency with an expense ratio of 30.4%, and conservative reinsurance program.
Guidance
Reaffirming all elements of the full 2026 guidance. Guidance for direct premiums written growth of 15 to 20%, underlying combined ratio of 74 to 76, catastrophe loss ratio of 7 to 10 points, diluted earnings per share of $2.20 to $2.90, and return on equity of 24% to 30% remain unchanged. First quarter catastrophe activity was within the scenario set in guidance.
Segment performance
The New York personal lines business saw direct premiums written grow by nearly 20%, net premiums earned grow by 28%, and investment income increase by 63%. The underlying combined ratio improved by 5.1 points year-over-year to 88.3, with the underlying loss ratio improving by over 4 points to 57.9 and the expense ratio improving by about a point to 30.4. Policies in force were up over 7% from the prior year quarter and up 2.5% from year end.
Risks & headwinds
The first quarter was impacted by severe winter catastrophe events which affected the combined ratio. There are risks related to future catastrophe events and their impact on earnings. Competition in markets like California could pose risks to business plans. Reinsurance arrangements also carry certain risks.
Analyst Q&A
Q: How much of the CATs got into the reinsurance layer?
A: We had first event winter storm coverage of five million dollars, with roughly four to five million going into the reinsurance tower, gross loss was about 25 million.
Q: Did policy count growth continue into April?
A: Growth has continued into the second quarter, with even slightly higher premium growth.
Q: Was other operating expenses a one-off?
A: Yes, it was a one-time expense related to board-level projects.
Q: Impact of competitive environment in California?
A: Kingston offers a select product specific to California, is a company not an MGA committed to long term, and offers ease of use to independent agents.
Q: Update on AmGuard opportunity?
A: Wrote $2.5 million in the first quarter from the renewal rights agreement with AmGuard.
Q: AI work?
A: Using AI to improve staff productivity, like on claims side for first notice of loss and coverage letters, and on underwriting side.
Q: Cat activity in Q2?
A: Typically Q2 is a very low cat quarter and so far no catastrophe events.
Q: Thinking on admitted basis in Connecticut?
A: Due to friendly regulatory environment and producer feedback, decided to go in on admitted basis.
Q: AOCI loss tied to bonds?
A: Yes, tied to higher interest rates marking down the bonds