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VRSK · Verisk Analytics

50 filings

10-Q

VRSK 10-Q Quarterly Reports

Verisk Analytics - 50 quarterly reports

Filing record · 2016–202610-K1110-Q328-K115

VRSK filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 115 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Nov ’17Nov ’17
  2. Leadership change8-K · Nov ’19Nov ’19
  3. Deal closed8-K · Mar ’22Mar ’22
  4. Material agreement8-K · Aug ’25Aug ’25
  1. 2026-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2026

    Verisk Analytics, Inc. reported revenues of $806.3 million for the quarter ended June 30, 2026, up from $772.6 million a year earlier, and $1,588.9 million for the six months, up from $1,525.6 million. Operating income rose to $363.7 million for the quarter from $354.3 million, but net income fell to $228.6 million from $253.3 million, reflecting higher interest expense of $52.8 million (versus $35.5 million), a higher effective tax rate of 24.6%, and $6.5 million of equity-method losses. Selling, general and administrative expenses rose 20.8% for the quarter, which the company attributes partly to AccuLynx-related costs, and EBITDA margin declined to 54.2% from 57.7%. The balance sheet shifted sharply during the period as the company returned capital to shareholders. Cash and cash equivalents fell to $551.4 million from $2,178.2 million at year-end 2025, and total stockholders' deficit reached $(1,189.0) million, compared with positive equity of $309.8 million at December 31, 2025. Treasury stock acquired totaled $1,571.9 million in the six months, including accelerated share repurchase agreements funded partly by a $750.0 million revolver draw and a $500.0 million Term Loan Facility. Total debt, excluding finance leases and discounts, was $4,500.0 million at June 30, 2026, versus $4,750.0 million at year-end. Operating cash flow of $756.4 million for the six months rose 9.8%. The filing also details ongoing litigation, including telematics class actions, a Daniel's Law suit, a trade secrets case brought by JPMorgan Chase Bank, and the AccuLynx merger dispute, where trial concluded in June 2026 and post-trial briefing is ongoing; the company states it cannot reasonably estimate possible losses for these matters. The Board declared a $0.50 per share dividend on July 27, 2026, payable September 30, 2026.

    Jul 29, 2026
  2. 2026-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2026

    Verisk Analytics, Inc. reported first-quarter 2026 revenues of $782.6 million, up from $753.0 million, with operating income of $352.2 million versus $330.1 million and net income of $234.2 million versus $232.3 million. Diluted EPS was $1.73 compared with $1.65 a year earlier. EBITDA was $436.0 million, and the EBITDA margin was 55.7% compared with 55.2%. Underwriting revenue rose 3.8% to $552.1 million and claims revenue rose 4.3% to $230.5 million. Interest expense, net increased to $43.2 million from $36.3 million, and the effective tax rate rose to 24.1% from 21.6%. Capital allocation dominated the quarter. Verisk repurchased $1,626.9 million of common stock, including $225.1 million not yet settled, funded by operations and borrowings under its revolving credit facility and a new $500.0 million term loan. Total debt, excluding finance leases and discounts, was $4,500.0 million at March 31, 2026, compared with $4,750.0 million at December 31, 2025. Cash and cash equivalents fell to $524.5 million from $2,178.2 million, and total stockholders' deficit was $(1,166.9) million compared with positive equity of $309.8 million at year-end. The company also redeemed $1,500.0 million of senior notes issued in connection with the terminated AccuLynx acquisition. The filing lists several pending matters, including telematics class action litigation, a Daniel's Law data privacy case, a trade secrets suit with JPMorgan Chase, and a Delaware Chancery action with AccuLynx scheduled for trial in June 2026, for which the company states it cannot reasonably estimate liability. The Board approved a $0.50 per share quarterly dividend payable June 30, 2026.

    Apr 29, 2026
  3. 2025-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2025

    Verisk Analytics, Inc. reported third-quarter 2025 revenues of $768.3 million, up from $725.3 million a year earlier, with net income of $225.5 million versus $220.0 million. Revenue for the nine months ended September 30, 2025 was $2,293.9 million, up from $2,146.1 million, while nine-month net income declined to $711.1 million from $747.2 million. The prior-year period included a $102.4 million investment gain and a $3.6 million gain on debt extinguishment, which explain much of the nine-month decline. Management attributes revenue growth mainly to underwriting price increases and expanded solutions, and reports EBITDA of $426.6 million for the quarter (a non-GAAP measure, with a 55.5% margin). Cash flow and balance sheet activity were significant this quarter. Operating cash flow was $1,092.7 million for the nine months, up from $888.6 million. Cash and cash equivalents rose to $2,107.9 million at September 30, 2025, largely because of new borrowings: the company issued $750.0 million of 4.500% senior notes due 2030 and $750.0 million of 5.125% senior notes due 2036 in August, plus a $750.0 million Term Credit Agreement and a revolving facility increased to $1,250.0 million. Total debt reached $4,718.1 million, and short-term debt rose to $1,488.9 million because the 2030 and 2036 notes are classified as current under a special mandatory redemption clause. The pending acquisition of ExactLogix, Inc. (AccuLynx) for $2.35 billion in cash, agreed July 29, 2025, is the key forward-looking item. On October 22, 2025, the company and AccuLynx each received a Second Request from the U.S. Federal Trade Commission. If the deal does not close by January 5, 2026 (or a later agreed date), the 2030 and 2036 notes must be redeemed at 101% of principal. The filing also describes ongoing litigation, including telematics class actions, a commercial dispute, and Daniel's Law litigation, for which the company states it cannot reasonably estimate liability.

    Oct 29, 2025
  4. 2025-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2025

    Verisk Analytics, Inc. reported second-quarter 2025 revenues of $772.6 million, up 7.8% from $716.8 million a year earlier, with underwriting revenue up 8.3% and claims revenue up 6.6%. Operating income rose to $354.3 million from $318.7 million, but net income fell to $253.3 million from $307.8 million, as the prior-year period included large non-operating gains from the settlement of retained interests in past divestitures (investment gain of $99.8 million in Q2 2024 versus $9.1 million in Q2 2025) and a debt extinguishment gain. Diluted EPS was $1.81 versus $2.15, and EBITDA was $445.7 million versus $499.3 million, with EBITDA margin at 57.7% versus 69.7%. For the six months, revenues were $1,525.6 million (up 7.4%) and net income was $485.6 million versus $527.2 million. Net cash provided by operating activities rose 16.3% to $689.2 million. Verisk issued $700.0 million of 5.250% senior notes due 2035, used $500.0 million to repay its 4.000% notes due 2025, and repurchased $300.1 million of common stock. Total debt rose to $3,250.2 million, and cash and cash equivalents increased to $628.7 million from $291.2 million at year-end 2024. Subsequent to the quarter, the company completed the $162.5 million cash acquisition of SuranceBay on July 17, 2025, and on July 29, 2025 entered into a definitive agreement to acquire AccuLynx for $2.35 billion in cash, subject to customary closing conditions including regulatory approval. The filing also discloses ongoing litigation, including telematics class actions in which the company states it cannot reasonably estimate potential liability.

    Jul 30, 2025
  5. 2025-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2025

    Verisk Analytics, Inc. reported first-quarter 2025 revenues of $753.0 million, up from $704.0 million in the prior-year quarter, an increase of 7.0%. Operating income rose to $330.1 million from $307.4 million, and net income attributable to Verisk was $232.3 million, compared with $219.6 million a year earlier. Diluted EPS was $1.65 versus $1.52. EBITDA was $415.9 million, a 9.4% increase, and the EBITDA margin was 55.2% compared with 54.0%. Growth was led by underwriting revenue of $532.0 million (up 6.8%) and claims revenue of $221.0 million (up 7.5%). Management attributed the underwriting gains to annual price increases and extreme event solutions, and the claims gains to anti-fraud and property estimating solutions. Cash flow and balance sheet activity were significant in the quarter. Net cash from operating activities was $444.7 million, up from $372.2 million. The company issued $700.0 million of 5.250% senior notes due 2035 and ended the quarter with $1,112.1 million of cash and cash equivalents. Total debt rose to $3,752.5 million from $3,061.1 million. Shareholders used cash for $200.1 million of share repurchases, including $30.0 million not yet settled, and $63.0 million of dividends. Management stated that cash from operations funded the repurchases. Subsequent to quarter-end, the company repaid $500.0 million of its 4.000% senior notes due 2025 in April 2025 and completed the $20.0 million acquisition of Simplitium Limited. The filing also discloses several pending lawsuits, including telematics class actions, an indemnification claim, a commercial earn-out dispute, and Daniel's Law litigation. For each, the company states it cannot reasonably estimate the potential liability because the cases are at early stages.

    May 7, 2025
  6. 2024-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2024

    Verisk Analytics, Inc. reported third-quarter 2024 revenues of $725.3 million, up 7.0% from $677.6 million a year earlier, with operating income of $311.5 million versus $281.1 million. Net income attributable to Verisk was $220.1 million, or $1.54 diluted EPS, compared with $187.4 million, or $1.29, in the prior-year quarter. EBITDA rose to $393.8 million from $346.8 million, and the consolidated EBITDA margin was 54.3% versus 51.2%. For the nine months, revenues were $2,146.1 million (up 7.1%) and net income attributable to Verisk was $747.8 million, helped by a $102.4 million investment gain, including a $98.3 million net gain on settling retained interests in non-public companies. Cash generation remained strong, with operating cash flow of $888.6 million for the nine months, up 9.9%. The company repurchased $750.0 million of common stock (including $60.0 million not yet settled) and paid $166.6 million in dividends. Total debt rose to $3,063.0 million at September 30, 2024, following a $600.0 million issuance of 5.25% senior notes due 2034 and a $400.0 million cash tender for 2025 notes. The quarterly dividend was increased to $0.39 per share, and the Board approved a further dividend payable December 31, 2024. Litigation remains a key watch item. The filing discloses a telematics class action multidistrict litigation, a Nepalese tax indemnification claim, a commercial earn-out suit, and several privacy suits, and states that it is not possible to reasonably estimate liability for these matters. Stockholders' equity was $304.7 million, reflecting cumulative share repurchases and dividends.

    Oct 30, 2024
  7. 2024-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2024

    Verisk Analytics, Inc. reported second-quarter 2024 revenues of $716.8 million, up from $675.0 million a year earlier, with operating income of $318.7 million versus $306.0 million. Net income attributable to Verisk was $308.1 million, or $2.15 per diluted share, compared with $196.9 million, or $1.35 per diluted share, in the prior-year quarter. Results were boosted by a $99.8 million investment gain, mainly from settlement of retained interests tied to previously sold businesses, and a $3.6 million gain on early debt extinguishment. For the six months, revenues were $1,420.8 million and net income attributable to Verisk was $527.7 million, compared with $253.2 million a year earlier, which included a $145.5 million loss from discontinued operations related to the Energy business sale. Cash generation remained solid, with net cash provided by operating activities of $592.4 million for the six months. The company issued $600.0 million of 5.25% senior notes due 2034 and used $400.0 million of proceeds to tender for 4.00% senior notes due 2025, reducing that series to $500.0 million. Total debt was $3,069.2 million at June 30, 2024, and cash and cash equivalents rose to $632.1 million. Share repurchases totaled $350.0 million across three accelerated share repurchase agreements in the six months, and dividends paid were $111.3 million. The filing also discloses several pending lawsuits, including telematics-related class actions involving General Motors, Hyundai, LexisNexis and Verisk, and a Daniel's Law suit. For each, the company states it is not possible to reasonably estimate the potential liability because the cases are at early stages.

    Jul 31, 2024
  8. 2024-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2024

    Verisk Analytics, Inc. reported first-quarter 2024 revenues of $704.0 million, up from $651.6 million in the prior-year period, an increase of $52.4 million or 8.0%. Operating income rose to $307.4 million from $294.1 million, and net income attributable to Verisk was $219.6 million, compared with $56.3 million in the first quarter of 2023. That prior-year figure included a $138.0 million loss from discontinued operations tied to the February 2023 sale of the Energy business. Diluted EPS was $1.52, versus $0.37 a year earlier, and EBITDA was $380.0 million with a 54.0% margin. Underwriting revenue grew 8.2% to $498.4 million and claims revenue grew 7.6% to $205.6 million. Cash generation was steady, with operating cash flow of $372.2 million, up 1.9%, though the company paid a $37.0 million settlement with the Department of Justice related to a former subsidiary's government contracts. Capital returns continued: the company repurchased $200.0 million of stock including $30.0 million not yet settled, paid $55.8 million in dividends, and declared $0.39 per share. Cash and cash equivalents totaled $352.4 million at quarter end, and $1,441.5 million remained available under the repurchase program. Total debt, excluding finance leases, was $2,850.0 million, and the company was in compliance with its covenants. The filing discloses several pending lawsuits, including telematics-related class actions against General Motors, OnStar, LexisNexis and Verisk, and a Daniel's Law suit. For each, the company states that it is not possible to reasonably estimate the liability because the cases are at early stages. Total stockholders' equity fell to $287.8 million from $322.2 million, largely reflecting share repurchases and dividends.

    May 1, 2024
  9. 2023-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2023

    Verisk Analytics, Inc. reported third-quarter 2023 results in its Form 10-Q filed November 1, 2023. Revenues were $677.6 million for the three months ended September 30, 2023, up from $610.1 million, and $2,004.2 million for the nine months, up from $1,866.5 million. Net income attributable to Verisk was $187.4 million for the quarter, compared with $189.4 million a year earlier, and $440.6 million for the nine months, compared with $892.8 million. Nine-month net income was reduced by a $145.5 million loss from discontinued operations, tied to the February 1, 2023 sale of the Energy business for a net cash price of $3,066.4 million. EBITDA was $346.8 million for the quarter, and the filing states the consolidated EBITDA margin was 51.2%, flat year over year. Capital allocation dominated the period. The company repurchased 11,111,210 shares for $2,106.6 million in the nine months, including accelerated share repurchase agreements, and $891.5 million remained available under the repurchase program at quarter end. Total debt was $2,866.8 million at September 30, 2023, down from $3,736.1 million, after the company issued $500.0 million of 5.75% senior notes due 2033 and repaid short-term borrowings. Cash and cash equivalents rose to $416.8 million, and the revolving credit facility had $995.5 million of available capacity. The filing also discloses a $19.2 million litigation reserve expense tied to an indemnification of an inquiry related to the former Financial Services segment, which increased selling, general and administrative expenses and was described as nondeductible for tax purposes. The company recorded a $20.0 million accrued liability for the related DOJ civil inquiry, and the ERISA class action was settled before a mediator on October 4, 2023.

    Nov 1, 2023
  10. 2023-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2023

    Verisk Analytics, Inc. reported second-quarter 2023 revenues of $675.0 million, up from $612.8 million a year earlier, with operating income of $306.0 million versus $247.6 million. Net income attributable to Verisk was $196.9 million for the quarter, compared with $197.7 million in the prior-year quarter, and diluted EPS was $1.35 versus $1.24. For the six months, revenues were $1,326.6 million and net income attributable to Verisk was $253.2 million, down from $703.4 million, a decline driven by the prior-year gains on dispositions and the loss on the February 2023 sale of the Energy business. Results from continuing operations are the cleaner read: income from continuing operations rose 17.7% in the quarter to $204.3 million, and EBITDA reached $365.1 million, a non-GAAP measure the company presents. The balance sheet changed substantially in the first half. The company completed the sale of its Energy business for $3,066.4 million in cash, used those proceeds to fund a $2.5 billion accelerated share repurchase program, and repaid $1,390.0 million of revolving and bilateral credit facility borrowings. It issued $500.0 million of 5.75% senior notes due 2033. Total stockholders' equity fell to $305.8 million at June 30, 2023 from $1,767.7 million at December 31, 2022, reflecting the repurchases, while cash and cash equivalents rose to $308.7 million. Net cash provided by operating activities was $558.2 million for the six months, and the company reported $941.3 million remaining under its repurchase authorization. The filing also discloses ongoing legal matters, including an ERISA class action, a Department of Justice civil inquiry and SEC inquiry tied to the former Financial Services segment, and several data privacy class actions in which the company states it cannot reasonably estimate liability. Management concluded that disclosure controls were effective as of June 30, 2023, and the quarterly dividend was $0.34 per share.

    Aug 2, 2023
  11. 2023-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2023

    Verisk Analytics, Inc. reported first-quarter 2023 revenues of $651.6 million, up from $643.6 million in the prior-year period, with Insurance revenues rising 11.1% to $651.6 million. Operating income fell to $294.1 million from $622.8 million, largely because the prior-year period included a $377.1 million other operating income item tied to the sale of its environmental health and safety business. Net income attributable to Verisk was $56.3 million, or $0.37 per diluted share, compared with $505.7 million, or $3.13 per diluted share, a year earlier. The loss from discontinued operations of $138.0 million reflects the February 1, 2023 sale of the Energy business, which closed for a net cash sale price of $3,066.4 million and included a $128.4 million loss on sale. The Energy sale funded a large capital return. The company repurchased 10,902,788 shares during the quarter, including $2.5 billion of accelerated share repurchases, and paid dividends of $49.2 million. Total debt rose to $2,840.5 million after the issuance of $500.0 million of 5.75% senior notes due 2033, and the company repaid $1,265.0 million of short-term debt. Stockholders' equity fell to $79.6 million from $1,767.7 million at year-end 2022, reflecting the repurchases. Adjusted EBITDA was $355.3 million, down from $682.2 million, with the EBITDA margin at 54.5% compared with 106.0% a year earlier. Subsequent to quarter-end, the company acquired Krug Sachverständigen GmbH for a net cash purchase price of approximately $49.5 million and amended its $1,000.0 million syndicated revolving credit facility to extend its maturity to April 5, 2028. The filing also discloses several pending privacy and data-related class actions, including matters in which the company has filed motions to dismiss, and states that the company cannot reasonably estimate potential liability for them at this stage.

    May 3, 2023
  12. 2022-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2022

    Verisk Analytics, Inc. reported its quarterly results for the period ended September 30, 2022 in this Form 10-Q filed November 1, 2022. Revenues were $745.3 million for the three months, down from $759.0 million a year earlier, and $2,267.1 million for the nine months, up from $2,232.6 million. Net income attributable to Verisk was $189.4 million for the quarter and $892.8 million for the nine months, the latter boosted by a $353.7 million net other operating income tied to the sales of its environmental health and safety business and Verisk Financial Services. EBITDA was $368.0 million for the quarter versus $378.7 million a year earlier. Insurance revenue grew 9.4% in the quarter, while Energy and Specialized Markets revenue declined 18.5%, reflecting the dispositions. Cash flow and capital returns were significant. Net cash from operating activities was $810.0 million for the nine months, down from $967.1 million, which the company attributed to higher tax payments and the dispositions. Verisk repurchased $1,196.3 million of common stock in the nine months and paid $147.2 million in dividends. Total debt was $3,411.4 million at September 30, 2022, and the company had $407.5 million remaining under its repurchase program. Total stockholders' equity fell to $2,006.0 million, reflecting the buybacks and a $524.2 million other comprehensive loss, largely from foreign currency translation. A subsequent event is the October 28, 2022 stock purchase agreement to sell the Energy business to Veritas Capital for potential aggregate consideration of $3,300 million, including $3,100 million cash at closing and up to $200 million contingent consideration. The transaction is expected to close in the first quarter of 2023, subject to regulatory approvals and working capital adjustments. The filing also discloses ongoing litigation, including an ERISA class action, a Department of Justice civil inquiry and SEC inquiry related to former Financial Services government contracts, and several data privacy suits, for which the company states it cannot reasonably estimate potential liability.

    Nov 1, 2022
  13. 2022-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2022

    Verisk Analytics, Inc. reported Q2 2022 results (three and six months ended June 30, 2022) in its Form 10-Q filed August 2, 2022. Revenues were $746.3 million for the quarter, essentially flat versus $747.5 million a year earlier, while six-month revenues rose to $1,521.8 million from $1,473.6 million. Quarterly net income attributable to Verisk was $197.7 million, up from $154.0 million, and six-month net income attributable to Verisk was $703.4 million, versus $322.6 million, reflecting a $361.5 million net other operating income line tied largely to the sales of its environmental health and safety business (3E) and Verisk Financial Services. Consolidated EBITDA was $363.4 million for the quarter, compared with $370.7 million, and $1,099.8 million for the six months, compared with $716.3 million. The company generated $529.8 million of operating cash flow for the six months, down from $681.9 million, with the filing attributing the decline to a $122.0 million increase in tax payments tied to the 3E gain. Proceeds from asset sales totaled $1,073.3 million for the six months. Verisk repurchased $896.3 million of common stock in the first half, and cash dividends paid were $98.6 million. Total debt was $3,479.2 million at June 30, 2022, and cash and cash equivalents stood at $480.7 million. The filing also discloses ongoing matters, including an ERISA class action, a civil inquiry by the Department of Justice and an SEC inquiry related to former Financial Services government contracts (for which Verisk agreed to indemnify TransUnion for certain DOJ-related losses), and several data privacy suits. The company states it cannot currently estimate liability for these matters.

    Aug 2, 2022
  14. 2022-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2022

    Verisk Analytics, Inc. reported first-quarter 2022 revenues of $775.5 million, up from $726.1 million in the prior-year quarter, an increase of 6.8%. Net income attributable to Verisk was $505.7 million, or $3.13 per diluted share, compared with $168.6 million, or $1.03 per diluted share, a year earlier. The results were driven largely by a $450.8 million gain on the sale of its environmental health and safety business, which closed March 11, 2022. Excluding acquisitions, business held for sale, and the disposition, revenue grew 4.9%, with Insurance up 5.9%. EBITDA rose to $736.4 million from $345.6 million, though the filing notes the gain drove much of that increase. The company also recorded a $73.7 million impairment on its Financial Services business, which it agreed to sell to TransUnion for net cash proceeds of $498.6 million; that sale closed April 8, 2022. Cash from operations fell to $399.6 million from $448.7 million, and the company repurchased $571.3 million of common stock during the quarter. Total debt rose to $3,639.1 million, and the revolving credit facility balance increased to $810.0 million, with $150.0 million repaid after quarter-end. Investors should note the significant portfolio reshaping: the company will move from three operating segments to two starting in the second quarter of 2022, following the Financial Services sale. The filing also discloses several pending litigation matters, a Financial Services government inquiry and an SEC inquiry, for which the company said it could not reasonably estimate potential liability.

    May 3, 2022
  15. 2021-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2021

    Verisk Analytics, Inc. reported third-quarter 2021 revenues of $759.0 million, up from $702.7 million a year earlier, and net income attributable to Verisk of $201.7 million, compared with $185.8 million. For the nine months ended September 30, 2021, revenues were $2,232.6 million (versus $2,071.2 million) and net income attributable to Verisk was $524.3 million (versus $536.5 million). Diluted EPS was $1.24 for the quarter and $3.21 for the nine months. Insurance remained the dominant segment, generating $557.9 million of quarterly revenue, and EBITDA for the quarter rose to $378.7 million from $366.2 million. Financial Services revenue declined 12.7% in the quarter, and Financial Services EBITDA fell sharply for the nine months, to $12.0 million from $37.6 million. Capital allocation was a major theme. The company repurchased $400.0 million of common stock in the nine months, paid $141.0 million in dividends, and repaid its $450.0 million 5.800% senior notes in May 2021. Total debt was $3,109.7 million at September 30, 2021, and $405.0 million was drawn on the $1,000.0 million credit facility. Subsequent to quarter end, the company agreed to acquire ACTINEO for a net cash price of approximately $135.0 million and completed the acquisition of Data Driven Safety, LLC for $93.2 million. The filing also details significant litigation. In the Xactware patent case, the court trebled a $125.0 million jury award to $375.0 million in enhanced damages plus interest and fees, with the company's $125.0 million reserve established in 2019 and the appeal pending. The filing states that it is not reasonably possible to determine the ultimate resolution. Several other matters, including the ERISA, ISO Claims Partners, Jornaya, Leica and Wood Mackenzie suits, are described as not reasonably estimable at this time.

    Nov 2, 2021
  16. 2021-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2021

    Verisk Analytics, Inc. reported revenues of $747.5 million for the three months ended June 30, 2021, up from $678.8 million in the prior-year quarter, an increase of $68.7 million or 10.1%. Net income attributable to Verisk was $154.0 million, compared with $179.0 million a year earlier, and diluted EPS was $0.94 versus $1.08. The decline in profitability was driven mainly by a provision for income taxes of $83.8 million, reflecting a deferred tax impact from the U.K. tax rate increase enacted in the period. EBITDA rose to $370.7 million from $345.9 million, and the EBITDA margin was 49.6% versus 51.0%. For the six months ended June 30, 2021, revenues were $1,473.6 million, up 7.7%, and net cash provided by operating activities was $681.9 million, up from $612.1 million. The Insurance segment generated $550.0 million of quarterly revenue, up 11.8%, with underwriting & rating up 11.2% and claims up 13.2%. Energy and Specialized Markets revenue grew 9.2% to $162.3 million, while Financial Services revenue declined 7.4% to $35.2 million. The company repaid $450.0 million of 5.800% senior notes in May 2021, funded partly by $390.0 million of Credit Facility borrowings, and repurchased $250.0 million of common stock in the first half of 2021. Total debt was $3,103.5 million at June 30, 2021, and $328.8 million remained available under the repurchase program. Litigation remains a material item. In the Eagle View patent case, the court trebled a $125.0 million jury award to $375.0 million in enhanced damages in February 2021, plus interest and attorneys' fees, against an existing $125.0 million reserve. The company posted an additional $305.0 million bond, and the appeal is expected to be argued in the fall of 2021. The filing states that the company is not able to reasonably estimate liability in several other pending matters.

    Aug 3, 2021
  17. 2021-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2021

    Verisk Analytics, Inc. (VRSK) reported first-quarter 2021 revenues of $726.1 million, up from $689.8 million in the prior-year quarter, an increase of 5.3%. Insurance revenue rose 8.1% to $535.6 million, Energy and Specialized Markets rose 1.3% to $156.2 million, and Financial Services fell 15.0% to $34.3 million. Net income attributable to Verisk was $168.6 million, or $1.03 per diluted share, compared with $171.7 million, or $1.04, a year earlier. EBITDA rose 2.5% to $345.6 million, with an EBITDA margin of 47.6% versus 48.9%. Cash generation was strong: net cash provided by operating activities was $448.7 million, up 23.7%, driven by higher customer collections and lower travel payments during COVID-19. Deferred revenues increased to $723.9 million from $466.7 million, reflecting subscriptions billed in advance. Cash and cash equivalents ended the quarter at $390.9 million. Verisk repurchased $100.0 million of stock and paid $47.1 million in dividends, and the company declared a quarterly dividend of $0.29 per share, up from $0.27. The company also entered into an additional $125.0 million accelerated share repurchase in March 2021 and repaid $450.0 million of 5.800% senior notes on May 3, 2021, using $250.0 million from its Credit Facility. The most significant risk disclosed is the Xactware patent litigation with Eagle View. On February 16, 2021, the court trebled a $125.0 million jury award to $375.0 million in enhanced damages, plus attorneys' fees and interest. Verisk has a $125.0 million reserve, and the company agreed to post an additional $305.0 million bond. The appeal remains pending, and the company says it is not reasonably possible to determine the ultimate outcome. The filing also discloses an ERISA class action, a Medicare Secondary Payer class action, Jornaya wiretap suits, and a U.S. Attorney's Office inquiry related to financial services government contracts.

    May 4, 2021
  18. 2020-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2020

    Verisk Analytics, Inc. reported third-quarter 2020 revenues of $702.7 million, up from $652.7 million a year earlier, and net income of $185.8 million, compared with $32.9 million in the prior-year period. The prior-year quarter included a $125.0 million litigation reserve related to the Xactware Solutions, Inc. patent litigation, which drove much of the year-over-year swing in SG&A ($96.4 million versus $255.0 million) and operating income ($275.4 million versus $69.5 million). Diluted EPS was $1.12 versus $0.20. For the nine months, revenues were $2,071.2 million, up from $1,930.3 million, and net income was $536.5 million, compared with $317.7 million. EBITDA for the nine months was $1,049.3 million, up from $728.1 million, and the company stated that the EBITDA margin was 50.7%. The company's cash generation remained strong, with net cash provided by operating activities of $819.2 million for the nine months. Management has used this cash to fund $298.8 million of share repurchases, $131.8 million of dividends, $159.9 million for the Franco Signor acquisition and $174.4 million of capital expenditures. Total debt rose to $3,159.3 million, including the $500.0 million 3.625% senior notes due 2050 issued in May 2020, and the Credit Facility was undrawn at quarter end with $994.8 million of available capacity. The filing highlights ongoing COVID-19 effects. Management stated that about 85% of revenues showed no material impact and grew approximately 6% in the quarter, while the remaining 15% of transactional revenue declined approximately 10%. The company also disclosed an adverse ruling in Eagle View patent litigation, with a pending request for enhanced damages and an appeal filed October 8, 2020, and an ERISA class action filed September 24, 2020 with no estimable liability.

    Nov 4, 2020
  19. 2020-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2020

    Verisk Analytics, Inc. reported second-quarter 2020 revenues of $678.8 million, up from $652.6 million in the prior-year quarter, and net income of $179.0 million, or $1.08 per diluted share, versus $150.4 million and $0.90 a year earlier. Operating income rose to $259.7 million from $218.3 million. For the six months ended June 30, 2020, revenues were $1,368.6 million and net income was $350.7 million. EBITDA for the quarter was $345.9 million, and the company cited a 51.0% EBITDA margin. Growth was led by the Insurance segment (underwriting & rating up 9.1%) and Energy and Specialized Markets (up 12.4%, helped by the Genscape acquisition), while Financial Services declined 14.1%. The filing notes that transactional revenues were hit by COVID-19, with roughly 15% of revenues affected and declining about 20% in the quarter, while subscription-based revenues (about 85% of total) grew about 5%. Operating cash flow was $612.1 million for the six months, up from $566.4 million. The company repurchased $248.8 million of stock in the first half and paid $87.9 million in dividends. Total debt stood at $3,143.7 million at June 30, 2020, including a $500.0 million issuance of 3.625% senior notes due 2050, and the company had $994.8 million of available credit facility capacity. Cash and cash equivalents rose to $309.4 million. Total stockholders' equity was $2,176.1 million. The main legal overhang is the Eagle View patent litigation, where a jury found willful infringement in September 2019 and assessed $125.0 million in damages, which the company has reserved. Eagle View has requested enhanced damages through trebling, and the court's decision is expected in the second half of 2020. The company also disclosed a sale of its aerial imagery sourcing group and compliance background screening business in exchange for a 35.0% stake in Vexcel, plus a $50.0 million accelerated share repurchase entered into in June 2020.

    Aug 4, 2020
  20. 2020-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2020

    Verisk Analytics, Inc. reported first-quarter 2020 revenues of $689.8 million, up from $625.0 million in the prior-year quarter, with the filing stating that acquisitions and dispositions contributed net revenues of $35.4 million and that remaining revenue grew $29.4 million, or 4.8%. Net income rose to $171.7 million from $134.4 million, and diluted EPS was $1.04 versus $0.81. Results were helped by a $19.4 million other operating income gain from the sale of the compliance background screening business and the data warehouse business, and EBITDA increased 19.7% to $337.3 million. Insurance revenue grew 7.9% to $489.4 million, Energy and Specialized Markets grew 24.6% to $160.1 million, and Financial Services declined 6.4% to $40.3 million. The company stated that COVID-19 has had no material impact on approximately 85% of its revenues, which are largely subscription-based, while the remaining 15% of revenues, mainly transactional, has seen declines in the last two weeks of March 2020. Management described the impact on the quarter as modest and said it does not anticipate lasting material effects on its long-term growth profile. Verisk reported cash from operations of $362.6 million, capital expenditures of $52.9 million, share repurchases of $173.8 million, and dividends paid of $43.9 million. Total debt was $3,096.4 million, and the filing notes a $1,000.0 million credit facility with $555.4 million of available capacity at quarter end. The filing also discloses an ongoing Xactware patent litigation with a $125.0 million reserve recorded in 2019, a permanent injunction on certain products, and a potential treble damages request that remains pending. The 360Value litigation was dismissed with prejudice in March 2020, though plaintiffs had not filed a notice of appeal as of the filing.

    May 5, 2020
  21. 2019-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2019

    Verisk Analytics, Inc. (VRSK) reported third-quarter 2019 results with revenues of $652.7 million, up from $598.7 million in the prior-year quarter, an increase of 9.0%. Net income fell to $32.9 million from $166.0 million, and diluted EPS was $0.20 versus $0.99. The decline was driven mainly by a $125.0 million litigation reserve tied to the Xactware Solutions, Inc. patent litigation (Eagle View/Pictometry), which was recorded in selling, general and administrative expenses, along with higher acquisition-related earn-out costs of $28.6 million. EBITDA fell to $149.3 million from $297.9 million, and the EBITDA margin was 22.9% versus 49.8%. For the nine months, revenues were $1,930.3 million, up 8.4%, while net income was $317.7 million versus $452.5 million. Net cash provided by operating activities was $779.9 million, compared with $761.0 million a year earlier. Total debt was $2,693.3 million at September 30, 2019, and the company repurchased $200.0 million of stock in the nine months and paid $122.7 million in dividends. Cash and cash equivalents rose to $311.8 million. Subsequent to quarter end, Verisk agreed to acquire Genscape, Inc. for approximately $364.0 million in cash, and it completed the acquisition of BuildFax, Inc. for a net cash purchase price of $42.2 million on October 10, 2019. The company also disclosed that on September 25, 2019 a jury found it had willfully infringed six patent claims and assessed $125.0 million in damages, and that the court permanently enjoined sales of certain Geomni and Aerial Sketch products in combination with Xactimate on October 18, 2019.

    Oct 30, 2019
  22. 2019-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2019

    Verisk Analytics, Inc. reported second-quarter 2019 revenues of $652.6 million, up from $601.3 million in the prior-year quarter, and net income of $150.4 million, down from $153.5 million. Diluted net income per share was $0.90 versus $0.91. For the six months ended June 30, 2019, revenues were $1,277.6 million (versus $1,182.5 million) and net income was $284.8 million (versus $286.5 million). EBITDA for the quarter was $297.1 million versus $290.5 million, and the filing attributes the decline in net income and EBITDA margin primarily to higher accelerated vesting of equity awards granted to employees at age 62. Insurance segment revenue rose 9.1% in the quarter, while Energy and Specialized Markets grew 7.6% and Financial Services 5.5%. Cash flow from operations was $566.4 million for the six months, up from $534.2 million. The company repurchased $125.0 million of stock in the first half, paid $81.9 million in dividends, and had $302.6 million remaining under its repurchase program at June 30, 2019. Total debt was $2,528.9 million, with long-term debt of $2,447.2 million, and the company issued $400.0 million of 4.125% senior notes due 2029 in March 2019 while repaying its 4.875% senior notes at maturity. Cash and cash equivalents were $153.3 million, and $1,425.2 million was available under the $1,500.0 million Credit Facility. The filing also adopted ASC 842 on January 1, 2019, recognizing operating lease right-of-use assets of $230.6 million and operating lease liabilities of $258.9 million in total at June 30, 2019. Management disclosed a pending patent lawsuit brought by Eagle View Technologies and Pictometry, with trial ordered to begin September 9, 2019, and a 360Value lawsuit related to 2017 Northern California wildfire claims; the company stated it cannot reasonably estimate the liability for either matter. The company also agreed to acquire Keystone Aerial Surveys, Inc. for approximately $30.0 million.

    Jul 30, 2019
  23. 2019-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2019

    Verisk Analytics, Inc. reported first-quarter 2019 revenues of $625.0 million, up from $581.2 million in the prior-year quarter, an increase of 7.5%. Excluding recent acquisitions, revenue rose 5.9%. Insurance revenue grew 9.3% to $451.2 million, Energy and Specialized Markets rose 4.2% to $130.8 million, and Financial Services was flat at $43.0 million. Operating income increased 4.1% to $202.4 million, and net income rose 1.0% to $134.4 million, while diluted EPS increased to $0.81 from $0.79. EBITDA reached $281.8 million, up 4.8%, with an EBITDA margin of 45.1% versus 46.3% a year earlier, which the company attributed mainly to recent acquisitions and acquisition-related earn-out costs. Cash generation remained strong, with net cash provided by operating activities of $366.1 million, up 12.0%. Deferred revenues rose to $602.1 million, and contract liabilities reached $607.7 million, reflecting subscriptions billed in advance. The company adopted ASC 842 on January 1, 2019, recording operating lease right-of-use assets of $239.6 million and operating lease liabilities totaling $267.5 million. Total debt was $2,623.8 million at March 31, 2019, following the repayment of the 4.875% senior notes and the issuance of $400.0 million of 4.125% senior notes due 2029. The company repurchased $75.0 million of stock during the quarter, had $352.6 million remaining under its repurchase program, and paid a $0.25 per share dividend. The filing also discloses pending litigation. The Eagle View patent case against Xactware Solutions and Verisk has trial ordered to begin June 10, 2019, and a putative class action related to the 360Value product is at an early stage. The company states it cannot currently determine the outcome or estimate the potential liability for either matter.

    Apr 30, 2019
  24. 2018-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2018

    Verisk Analytics, Inc. (VRSK) reported third-quarter 2018 results in this Form 10-Q, filed October 30, 2018. Revenues were $598.7 million for the three months ended September 30, 2018, compared to $549.1 million a year earlier, an increase of $49.6 million or 9.0%. Net income rose to $166.0 million from $120.7 million, and diluted EPS was $0.99 versus $0.72. For the nine months, revenues were $1,781.2 million (up 13.1%) and net income was $452.5 million (up 29.1%). The company reported EBITDA of $297.9 million for the quarter, up 9.4%, and $857.3 million for the nine months, up 11.0%. Management attributed the lower effective tax rate, 13.9% for the quarter, primarily to U.S. tax reform. Cash flow from operations was $761.0 million for the nine months, up from $592.1 million. Management used cash to repay $430.0 million of net Credit Facility borrowings and to repurchase $282.2 million of common stock, while capital expenditures were $154.5 million. Total debt was $2,587.2 million at September 30, 2018, down from $3,008.8 million at year-end 2017. Stockholders' equity increased to $2,141.2 million, and the company had $584.0 million remaining under its repurchase program. Accumulated other comprehensive losses widened to $509.6 million, driven by foreign currency translation. The filing also discloses that the company adopted Topic 606 on January 1, 2018 under the modified retrospective method, and that lease accounting under ASU 2016-02 is expected to be material when adopted January 1, 2019. Management disclosed an ongoing Xactware patent lawsuit brought by Eagle View and Pictometry, for which it said it is not reasonably possible to determine the ultimate resolution or estimate liability.

    Oct 30, 2018
  25. 2018-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2018

    Verisk Analytics, Inc. reported its quarterly results for the three and six months ended June 30, 2018. Revenues were $601.3 million for the quarter, up 14.9% from $523.2 million a year earlier, and $1,182.5 million for the six months, up 15.3% from $1,025.8 million. Net income rose to $153.5 million for the quarter (diluted EPS $0.91 versus $0.72) and $286.5 million for the six months (diluted EPS $1.70 versus $1.36). The company attributes part of the lower effective tax rate (17.0% for the quarter) to U.S. tax reform, which cut the federal rate from 35.0% to 21.0%. Excluding recent acquisitions, consolidated revenue grew 8.3% in both the quarter and the six-month period, with Insurance, Energy and Specialized Markets, and Financial Services each contributing to growth. The company now reports three segments: Insurance, Energy and Specialized Markets, and Financial Services. Cash flow from operations was $534.2 million for the six months, up from $429.8 million. Management attributes the increase to higher customer receipts and lower tax payments, partially offset by higher interest payments. The company used cash for $179.4 million of share repurchases, $99.3 million of capital expenditures, and $235.0 million of net debt repayment on its credit facility. Total debt was $2,781.1 million at June 30, 2018, down from $3,008.8 million at December 31, 2017, and the company had $685.8 million remaining under its repurchase authorization. Stockholders' equity rose to $2,073.6 million, though accumulated other comprehensive losses increased to $474.2 million, driven largely by a $165.6 million foreign currency translation loss in the quarter. The filing also discloses an ongoing patent infringement lawsuit brought by Eagle View Technologies and Pictometry against Xactware Solutions and Verisk. Management said it cannot currently determine the ultimate outcome or estimate a possible loss, and that summary judgment motions are due August 31, 2018. The company adopted ASU 2014-09 (Topic 606) on January 1, 2018 using the modified retrospective method. The filing notes that the 2018 acquisitions, including Validus and Business Insight, were immaterial to the consolidated results.

    Jul 31, 2018
  26. 2018-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2018

    Verisk Analytics, Inc. (VRSK) reported first-quarter 2018 revenues of $581.2 million, up from $502.6 million in the prior-year quarter, an increase of $78.6 million or 15.6%. Excluding revenue from recent acquisitions, consolidated revenue rose $41.8 million or 8.3%. Operating income was $194.5 million versus $187.7 million, and net income was $133.0 million versus $108.8 million, with diluted EPS of $0.79 compared to $0.64. The lower effective tax rate of 18.0% (versus 32.5%) reflected U.S. tax reform and greater equity compensation tax benefits, which supported the net income gain. EBITDA rose to $268.8 million from $245.7 million, although EBITDA margin declined to 46.3% from 48.9%, which the company attributed primarily to recent acquisitions. The company adopted ASC Topic 606 on January 1, 2018 using the modified retrospective method. Deferred revenues rose to $586.6 million from $384.7 million at year-end 2017, and contract liabilities reached $589.8 million, reflecting billings paid in advance. Operating cash flow was $327.0 million, up from $317.9 million. Verisk used $235.0 million of net debt repayments on its credit facility and repurchased $36.2 million of stock during the quarter. Total debt was $2,782.0 million, with $1,500.0 million of credit facility capacity and $326.4 million remaining under its repurchase authorization. The company reorganized its reportable segments into Insurance, Energy and Specialized Markets, and Financial Services. Insurance represented the largest share of revenue at $412.6 million. The filing also discloses an ongoing Xactware patent litigation brought by Eagle View Technologies and Pictometry, for which the company states it cannot currently estimate the potential loss.

    May 1, 2018
  27. 2017-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2017

    Verisk Analytics, Inc. reported third-quarter 2017 revenues of $549.1 million, up from $498.1 million in the prior-year period, and nine-month revenues of $1,574.9 million versus $1,489.1 million. Operating income for the quarter was $208.4 million, compared with $198.4 million a year earlier, while net income was $120.7 million, versus $127.6 million. Diluted EPS was $0.72, compared with $0.74. For the nine months, net income was $350.5 million, down from $481.9 million, a decline driven by the prior-year gain on the sale of the healthcare business, Verisk Health. The company reported EBITDA of $272.3 million for the quarter and $772.1 million for the nine months, and the filing states an EBITDA margin of 49.6% for the quarter versus 50.7% a year earlier. The balance sheet grew substantially during the period as the company completed several acquisitions. Total assets rose to $5,628.2 million from $4,631.2 million at year-end 2016, and goodwill increased to $3,188.8 million. Total debt was $2,881.7 million, including $595.0 million drawn on the $1,500.0 million revolving Credit Facility, which was used to fund acquisitions including Sequel Business Solutions ($320.3 million net cash price), Lundquist Consulting ($150.6 million), and G2 Web Services ($112.0 million). Net cash provided by operating activities was $592.1 million for the nine months, while net cash used in investing activities was $823.9 million, primarily for acquisitions and capital expenditures. During the nine months, the company repurchased $276.2 million of common stock and had $366.2 million remaining under its repurchase authorization as of September 30, 2017. The filing also discloses that the company is planning to adopt ASC Topic 606 using the modified retrospective approach and is still evaluating its impact, with an identified effect being the capitalization and amortization of most sales commissions.

    Oct 31, 2017
  28. 2017-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2017

    Verisk Analytics, Inc. (NASDAQ: VRSK) reported its quarterly results for the three and six months ended June 30, 2017. Revenues were $523.2 million for the quarter, up from $498.3 million, and $1,025.8 million for the six months, up from $991.0 million. Operating income for the quarter was $195.0 million, compared with $191.2 million a year earlier, while net income fell to $121.0 million from $261.8 million. The prior-year quarter included $155.0 million of income from discontinued operations, mainly from the sale of the Verisk Health business on June 1, 2016. Income from continuing operations rose to $121.0 million from $106.8 million. Diluted EPS from continuing operations was $0.72, compared with $0.62. Cash flow from operations for the six months was $429.8 million, up from $385.1 million. The company repurchased $266.1 million of common stock in the period and spent $109.8 million on acquisitions, net of cash acquired. Total debt was $2,403.4 million at June 30, 2017, and the Credit Facility's maturity was extended to May 15, 2022. Goodwill stood at $2,733.8 million, which the filing says represents 55.8% of total assets. The company also agreed on July 11, 2017 to acquire G2 Web Services for $112.0 million. EBITDA for the quarter was $254.1 million, against $500.0 million in the prior-year quarter, which included discontinued operations. Excluding that prior-year effect, the filing presents continuing-operations results and segment revenue growth, with Decision Analytics up 4.2% and Risk Assessment up 6.4% for the quarter. The company reports both segments' figures and states that the Intellicorp and Interthinx matters are being settled, while the Xactware patent case and the Snyder antitrust case remain without a determinable outcome.

    Aug 1, 2017
  29. 2017-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2017

    Verisk Analytics, Inc. reported first-quarter 2017 revenues of $502.6 million, up 2.0% from $492.7 million in the prior-year quarter, while net income rose to $108.8 million from $92.6 million. The prior-year period included discontinued operations from the Verisk Health sale, so income from continuing operations was essentially flat at $108.8 million versus $109.7 million. Operating income declined to $187.7 million from $192.6 million, and EBITDA fell 6.6% to $245.7 million, driven by Decision Analytics, where EBITDA dropped 14.6% to $131.3 million. Risk Assessment EBITDA rose 4.7% to $114.4 million, and Risk Assessment revenues grew 5.4% to $189.4 million. Cash flow and balance sheet were stronger. Net cash provided by operating activities rose 4.6% to $317.9 million. The company repaid $100.0 million under its Credit Facility, reducing borrowings to zero, and repurchased $99.3 million of common stock, leaving $532.0 million available under the repurchase program. Total debt was $2,300.0 million in senior notes, and the Credit Facility had $1,496.6 million available net of letters of credit. The company completed four acquisitions in the quarter (Arium, Healix, ENI and Fintellix) for a combined net cash purchase price of $76.3 million. It also has pending litigation, including Eagle View/Pictometry patent claims for which the company states it cannot estimate liability, and an Intellicorp FCRA class action settled on a non-material basis.

    May 2, 2017
  30. 2016-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2016

    Verisk Analytics, Inc. reported third-quarter 2016 revenues of $498.1 million, up 5.9% from $470.4 million a year earlier, with operating income of $198.4 million, essentially flat (up 0.6%) versus $197.1 million. Net income fell 3.2% to $127.6 million for the quarter, but for the nine months net income rose 22.4% to $482.0 million, helped by $137.9 million of income from discontinued operations tied to the June 1, 2016 sale of its healthcare business, Verisk Health. Nine-month revenues grew 16.0% to $1,489.1 million, aided by acquisitions including Wood Mackenzie, which the company said contributed $142.9 million of Decision Analytics revenue in the period. EBITDA for the quarter was $252.7 million, down 9.4% from $278.8 million, reflecting the absence of a prior-year warrant gain and discontinued-operations EBITDA. Nine-month EBITDA rose 28.4% to $1,015.8 million. Operating cash flow for the nine months was $463.7 million, down 10.8% from $520.0 million. Total debt was $2,286.3 million at September 30, 2016, and the company repaid $870.0 million of Credit Facility borrowings using healthcare sale proceeds; it also repurchased $189.8 million of stock during the nine months. The filing also flags Brexit as a new risk factor, noting that the UK's vote to exit the EU could adversely affect European operations, and lists several pending lawsuits, including FCRA class actions against subsidiary Intellicorp, a patent suit from Eagle View and Pictometry, and antitrust and insurance-related class actions involving ISO, for which the company stated it could not determine the outcome or estimate liability.

    Nov 1, 2016
  31. 2016-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2016

    Verisk Analytics, Inc. (VRSK) reported its 10-Q for the quarter ended June 30, 2016. Revenues were $498.3 million for the three months ended June 30, 2016, up from $428.6 million, and $991.0 million for the six months, up from $812.9 million. Net income was $261.7 million for the quarter and $354.4 million for the six months, but these figures include discontinued operations. Income from continuing operations was $106.7 million for the quarter, compared with $158.9 million a year earlier, and $216.5 million for the six months, compared with $255.3 million. The company sold its healthcare business, Verisk Health, on June 1, 2016 for $719.4 million in cash plus a $100.0 million subordinated promissory note, recognizing a $269.4 million gain on sale within discontinued operations. The company's debt position improved substantially. Short-term debt fell from $874.8 million at December 31, 2015 to $2.3 million at June 30, 2016, after the company repaid $870.0 million of Credit Facility borrowings. Senior notes outstanding remained at $2.3 billion, and the Credit Facility's borrowing capacity was reduced from $1.75 billion to $1.5 billion. Total stockholders' equity rose to $1.45 billion, while accumulated other comprehensive losses grew to $457.1 million, driven mainly by a foreign currency translation adjustment of $216.5 million for the six months. Operating results were driven by the Wood Mackenzie acquisition completed in May 2015, which contributed to Decision Analytics revenue growth of 34.0% for the six months. Excluding recent acquisitions, consolidated revenue grew 5.2% for the six months. The company also disclosed a subsequent event: the July 26, 2016 acquisition of Greentech Media for a net cash purchase price of $37.0 million. Several litigation matters remain pending, including FCRA class actions involving Intellicorp, a patent suit by Eagle View and Pictometry, and antitrust and other claims involving ISO, for which the company stated it could not estimate potential liability.

    Aug 2, 2016
  32. 2016-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2016

    Verisk Analytics, Inc. reported revenues of $492.7 million for the three months ended March 31, 2016, up from $384.3 million a year earlier, an increase of $108.4 million or 28.2%. Growth was driven largely by the Wood Mackenzie, Infield and PCI acquisitions, which contributed $89.3 million of revenue within Decision Analytics. Excluding those recent acquisitions, consolidated revenue increased $19.1 million or 5.0%. Net income fell to $92.6 million from $98.7 million, reflecting a $17.1 million loss from discontinued operations, which relates to the healthcare business Verisk Health. Income from continuing operations rose 13.9% to $109.7 million. Consolidated EBITDA was $263.1 million, up 21.6%, with an EBITDA margin of 46.8% versus 47.1% a year earlier. The company signed a definitive agreement on April 25, 2016 to sell Verisk Health to Veritas Capital for $820.0 million, consisting of $720.0 million in cash, a $100.0 million subordinated promissory note and other contingent consideration, with closing expected by June 30, 2016. Verisk repurchased $116.4 million of common stock during the quarter and repaid $165.0 million of short-term debt net. Total debt was $2.98 billion at March 31, 2016, including $705.0 million outstanding under its $1.75 billion revolving credit facility, and the company reported $131.8 million in cash and cash equivalents. Operating cash flow was $303.9 million, compared with $271.0 million a year earlier. Investors should note the higher amortization of intangible assets ($23.9 million versus $7.5 million), the higher interest expense ($32.0 million versus $18.2 million), and the pending legal matters, including the Intellicorp Fair Credit Reporting Act class actions and the Xactware patent litigation, for which the company said it could not estimate potential liability.

    May 3, 2016
  33. 2015-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2015

    Verisk Analytics, Inc. reported a sharply larger business in its third-quarter 2015 Form 10-Q, driven by the May 19, 2015 acquisition of Wood Mackenzie Limited for a net cash purchase price of $2,889,629 thousand (about $2.89 billion). Revenues for the three months ended September 30, 2015 were $550.4 million, up from $448.7 million, and nine-month revenues were $1,507.4 million versus $1,281.9 million. Net income for the quarter was $131.8 million ($0.77 diluted EPS) compared with $99.0 million ($0.58 diluted) a year earlier. Results were also helped by non-recurring items, including an $85.2 million gain on a foreign currency hedge tied to the acquisition and a $15.6 million gain on the exercise of EVT warrants. The acquisition was funded largely with debt. Total debt was $3,198.4 million at September 30, 2015, and the filing states that leverage (debt to EBITDA) rose from 1.57x to 2.95x. The company issued $900.0 million of 4.000% senior notes due 2025 and $350.0 million of 5.500% senior notes due 2045 in May 2015, and it also raised $720.8 million of net equity proceeds. Interest expense rose to $33.0 million in the quarter from $17.5 million. Cash and cash equivalents were $168.8 million at quarter end, and the company reported no share repurchases during the nine months. The filing also discloses a plan announced in October 2015 to explore strategic alternatives for the Healthcare business within Decision Analytics, with no assurance a transaction will result. Several litigation matters are pending, including a Fair Credit Reporting Act class action against Intellicorp Records, Inc. and a patent suit by Eagle View Technologies and Pictometry against Xactware Solutions and Verisk. The company states it cannot currently estimate the liability for these matters. Management also noted that Wood Mackenzie's internal controls were excluded from its assessment and that integration is ongoing.

    Oct 27, 2015
  34. 2015-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2015

    Verisk Analytics, Inc. reported revenues of $497.65 million for the three months ended June 30, 2015, up from $423.55 million a year earlier, and $957.05 million for the six months, up from $833.20 million. Net income was $163.32 million for the quarter versus $88.10 million in the prior-year quarter, and diluted EPS was $0.97 versus $0.52. The quarter included an $85.19 million non-recurring gain on derivative instruments tied to a foreign currency hedge for the Wood Mackenzie acquisition, and $20.7 million of non-recurring transaction costs in SG&A related to that acquisition. The company acquired Wood Mackenzie Limited on May 19, 2015 for a net cash purchase price of $2,889.6 million, funded through senior notes, a common stock offering of $720.8 million net of proceeds, and borrowings under a new $1,750.0 million syndicated revolving credit facility. Total debt, excluding capital leases, rose to $3,310.2 million at June 30, 2015 from $1,425.8 million at December 31, 2014. Goodwill increased to $3,057.6 million and intangible assets, net, to $1,655.6 million. The filing states leverage (debt to EBITDA) rose from 1.57x to 3.10x. Cash and cash equivalents were $145.5 million at June 30, 2015, and operating cash flow for the six months was $355.5 million, up from $286.8 million. The company repurchased no shares in the first half of 2015, and $189.8 million remained available under its repurchase authorization. Management also disclosed that its Wood Mackenzie integration is ongoing and that internal control assessment excluded that business.

    Jul 28, 2015
  35. 2015-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2015

    Verisk Analytics, Inc. reported first-quarter 2015 revenues of $459.4 million, up 12.1% from $409.6 million a year earlier, and operating income of $178.3 million versus $148.8 million. Net income was $98.7 million, or $0.61 per diluted share, compared with $115.6 million in the prior-year period, which included $31.1 million from discontinued operations (the mortgage services business Interthinx, sold March 11, 2014). Income from continuing operations rose 16.9% to $98.7 million from $84.4 million. Decision Analytics revenues grew 16.6% to $288.5 million, while Risk Assessment grew 5.3% to $170.9 million. EBITDA fell 9.3% to $216.3 million, and the consolidated EBITDA margin was 47.1% versus 56.6% a year earlier, a comparison affected by the prior-year discontinued-operations gain. The balance sheet and cash flow reflect the company's pending acquisition of Wood Mackenzie Limited for a net cash purchase price of approximately $2.8 billion, to be financed through debt and equity offerings, credit facility borrowings and cash on hand. In March 2015 the company also obtained a $2.3 billion 364-day bridge financing commitment for that deal, with fees of $9.1 million. Cash and cash equivalents rose to $152.8 million from $39.4 million, and total debt, excluding capital leases, was $1,296.0 million. Net cash from operating activities was $271.0 million, up 16.4%. No share repurchases were made in the quarter. Total stockholders' equity increased to $331.7 million from $211.0 million. The company also disclosed an agreement on April 22, 2015 for a new $1.75 billion committed senior unsecured revolving credit facility, which would replace the existing $990.0 million facility when effective. The filing notes ongoing litigation, including the Mariah Re, MediConnect Global and Snyder v. ACORD matters, for which the company says it cannot currently determine a resolution or estimate of liability. The Interthinx wage-and-hour class action settlement of $6.0 million received final approval on April 22, 2015.

    Apr 28, 2015
  36. 2014-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2014

    Verisk Analytics, Inc. (NASDAQ: VRSK) reported third-quarter 2014 revenues of $448.7 million, up 8.9% from $411.9 million a year earlier, and nine-month revenues of $1,281.9 million, up 8.7%. Operating income for the quarter was $175.5 million, compared with $166.8 million, and net income was $99.0 million, or $0.58 per diluted share, versus $96.4 million, or $0.56 per diluted share, in the prior-year quarter. Nine-month net income was $302.7 million, which includes $31.1 million from discontinued operations tied to the March 2014 sale of the Interthinx mortgage services business for a purchase price of $155.0 million. Cash and cash equivalents rose to $432.5 million at September 30, 2014 from $165.8 million at December 31, 2013. Total debt, excluding capital leases, was $1,265.7 million, and the company had no borrowings under its $975.0 million credit facility. Net cash provided by operating activities was $378.6 million for the nine months, and the company repurchased $183.1 million of stock in cash flow terms, leaving $280.3 million available under its repurchase authorization. The pending acquisition of Eagleview Technology Corporation for $650.0 million remains subject to a Federal Trade Commission Second Request, and the purchase agreement term has been extended to December 31, 2014. The filing also describes several pending legal matters, including the Interthinx wage-and-hour class actions, which were settled in October 2014 for a payment of $6.0 million, the Mariah Re litigation, which was dismissed with prejudice on September 30, 2014, and the ISO pension plan litigation, which was dismissed by the district court and is on appeal.

    Oct 28, 2014
  37. 2014-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2014

    Verisk Analytics, Inc. reported second-quarter 2014 revenues of $423.6 million, up 8.5% from $390.4 million a year earlier, and six-month revenues of $833.2 million, up 8.6%. Operating income for the quarter was $159.1 million, compared with $146.9 million in the prior-year quarter. Net income for the quarter was $88.1 million, or $0.52 diluted EPS, versus $84.2 million, or $0.49 diluted EPS. For the six months, net income was $203.7 million, which includes $31.1 million from discontinued operations following the March 11, 2014 sale of its mortgage services business, Interthinx, for $155.0 million. Net income for the six months rose 23.6%, reflecting the sale-related gain of $65.4 million before tax. Cash and cash equivalents rose to $419.4 million at June 30, 2014, from $165.8 million at December 31, 2013. Net cash provided by operating activities was $286.8 million for the six months, compared with $246.7 million a year earlier. Total debt, excluding capital leases, was $1,265.5 million, and the company had no borrowings under its $975.0 million credit facility. Company repurchased $122.1 million of its stock in the six months, and $346.2 million remained available under its repurchase authorization. The pending acquisition of Eagleview Technology Corporation for $650 million remains subject to an FTC Second Request, and the company expects it to close at the end of the third quarter of 2014. The company also disclosed several pending litigation matters, including Mariah Re, MediConnect and a Skelly ERISA class action, for which it stated it could not estimate potential liability.

    Jul 29, 2014
  38. 2014-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2014

    Verisk Analytics, Inc. reported revenues of $409.6 million for the three months ended March 31, 2014, up from $376.7 million a year earlier, an increase of $32.9 million or 8.7%. Operating income rose to $148.8 million from $145.5 million, and net income increased to $115.6 million from $80.5 million. The net income figure includes $31.1 million of income from discontinued operations, which reflects the March 11, 2014 sale of the mortgage services business, Interthinx, for $155.0 million. Income from continuing operations was $84.4 million, compared with $79.4 million a year earlier. Diluted EPS was $0.68, versus $0.47 in the prior-year quarter, and diluted EPS from continuing operations was $0.50, versus $0.46. Cash flow from operations was $232.8 million, compared with $191.3 million, and cash and cash equivalents rose to $427.4 million at March 31, 2014. The company repurchased 1,399,349 shares for $88.7 million during the quarter, and $76.5 million remained under its repurchase authorization. Total debt excluding capital leases was $1,265.3 million, and the company had no borrowings under its $975.0 million credit facility. The pending acquisition of Eagleview Technology Corporation for a net cash purchase price of $650 million remains subject to a Federal Trade Commission Second Request, and the company expects it to close in the third quarter of 2014. Several litigation matters remain open, including Interthinx-related wage claims, the Mariah Re action, and an ERISA pension suit, and the company states it cannot currently estimate their outcomes.

    Apr 29, 2014
  39. 2013-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2013

    Verisk Analytics, Inc. reported third-quarter 2013 revenues of $438.6 million, up from $398.9 million in the prior-year quarter, and net income of $96.4 million, or $0.56 per diluted share, versus $82.9 million, or $0.48 per diluted share, a year earlier. For the nine months ended September 30, 2013, revenues were $1,263.2 million (up from $1,118.6 million) and net income was $261.2 million, or $1.51 per diluted share. EBITDA rose to $202.9 million for the quarter and $568.3 million for the nine months, with the consolidated EBITDA margin at 45.0% for the nine months. Growth was supported by recent acquisitions in the Decision Analytics segment, including Argus, MediConnect and ALP, and by organic growth of 6.9% excluding those acquisitions for the nine months. Cash flow from operations was $386.5 million for the nine months, up from $321.0 million. Total debt was $1,310.6 million at September 30, 2013, compared with $1,461.4 million at year-end 2012, after $145.0 million of private placement debt repayments. The company repurchased $162.1 million of common stock during the nine months and had $282.1 million of repurchase authorization remaining. Cash and cash equivalents rose to $180.2 million, and the revolving credit facility had no outstanding borrowings at quarter end. The filing also discloses several pending class action and other lawsuits involving subsidiaries Intellicorp, iiX, Interthinx and MediConnect, along with the Mariah Re litigation. The company said it could not determine the ultimate resolution or estimate the liability for most of these matters, and reported that a proposed $18.6 million settlement of the Roe, Thomas and Johnson matters is expected to be covered by insurance.

    Nov 5, 2013
  40. 2013-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2013

    Verisk Analytics, Inc. reported revenues of $421.3 million for the three months ended June 30, 2013, up from $373.2 million a year earlier, and $824.6 million for the six months, up from $719.7 million. Operating income for the six months rose to $298.9 million from $277.4 million, and net income was $164.7 million, compared with $147.9 million. Diluted EPS for the six months was $0.95, versus $0.86 in the prior-year period. Decision Analytics drove much of the growth, with revenues of $517.8 million for the six months (up 20.3%), including $52.4 million from recent acquisitions such as MediConnect, ALP and Argus. Risk Assessment revenues rose 6.1% to $306.9 million for the six months. Balance sheet and cash flow data show cash and cash equivalents of $172.6 million at June 30, 2013, and net cash provided by operating activities of $246.7 million for the six months, up from $187.4 million. The company repurchased $135.6 million of common stock in the six months, and $306.6 million remained under its repurchase authorization at June 30, 2013 after an additional $300.0 million was authorized in June 2013. Total debt, excluding capital leases, was $1,399.8 million. The $850.0 million revolving credit facility had no outstanding borrowings at quarter end. The filing also discloses several pending lawsuits, including FCRA class actions involving subsidiaries Intellicorp and iiX, wage and hour class actions involving Interthinx, and the Mariah Re litigation. The company states that it cannot currently determine the ultimate resolution or estimate the liability for these matters.

    Jul 30, 2013
  41. 2013-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2013

    Verisk Analytics, Inc. reported first-quarter 2013 revenues of $403.3 million, up from $346.5 million a year earlier, an increase of $56.8 million or 16.4%. Operating income rose to $147.4 million from $138.961 million, and net income was $80.5 million versus $74.6 million, with diluted EPS of $0.47 compared to $0.44. Growth was supported by recent acquisitions (MediConnect, ALP and Argus), which added $33.4 million of revenue in the Decision Analytics segment. Excluding those acquisitions, revenue grew $23.4 million or 6.8%. EBITDA reached $179.7 million, up 12.6%, though the EBITDA margin declined to 44.6% from 46.1% as the company invested in new solution development. Cash flow and liquidity strengthened materially. Cash and cash equivalents plus available-for-sale securities totaled $272.5 million at March 31, 2013, versus $94.7 million at year-end 2012, and net cash from operating activities was $191.3 million. The company repurchased 381,800 shares for $21.5 million during the quarter, and $122.7 million remained under its $900.0 million repurchase program. Total debt, excluding capital lease and other obligations, was $1,444.6 million, and the $850.0 million credit facility was undrawn. The filing also discloses pending litigation under the Fair Credit Reporting Act involving subsidiaries Intellicorp Records, Inc. and Insurance Information Exchange (iiX). The company states it cannot currently determine the ultimate resolution or estimate the potential liability for these matters.

    Apr 30, 2013
  42. 2012-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2012

    Verisk Analytics, Inc. (VRSK) reported third-quarter 2012 results with revenues of $398.9 million for the three months ended September 30, 2012, up 17.3% from $340.1 million, and net income of $82.9 million, or $0.48 diluted per share, compared with $71.0 million, or $0.41 diluted per share, a year earlier. For the nine months, revenues were $1,118.6 million (up 14.1%) and net income was $230.8 million, or $1.34 diluted per share. Growth was driven in part by recent acquisitions, including Argus Information & Advisory Services (acquired August 31, 2012), MediConnect Global and Aspect Loss Prevention, all within the Decision Analytics segment. Excluding recent acquisitions, nine-month revenues increased 7.5%, with Decision Analytics up 11.1% and Risk Assessment up 2.8%. EBITDA rose 16.6% to $506.3 million for the nine months, and the EBITDA margin was 45.3%, compared with 44.3% a year earlier. The company's balance sheet shifted meaningfully toward debt and goodwill. Total assets increased to $2.30 billion from $1.54 billion at December 31, 2011, goodwill rose to $1.22 billion, and total debt reached $1,567.5 million. Stockholders' equity turned positive at $142.0 million from a deficit of $98.5 million at year-end 2011. Cash and equivalents fell to $97.8 million. Net cash from operating activities was $321.0 million for the nine months, while investing outflows of $838.7 million reflected acquisitions. The company issued $350.0 million of 4.125% senior notes due 2022 and increased its revolving credit facility to $850.0 million. It also made a $72.0 million voluntary pension prefunding and repurchased $127.8 million of Class A common stock during the nine months. The filing also discloses increased leverage following the Argus acquisition, with debt to EBITDA (last twelve months pro forma) rising from 1.90x to 2.34x. Two class action-style lawsuits, involving Citizens Property Insurance Corporation (Xactware 360Value) and Intellicorp Records, Inc. under the Fair Credit Reporting Act, remain pending, and the company states it cannot currently determine their outcome or estimate potential liability.

    Oct 30, 2012
  43. 2012-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2012

    Verisk Analytics, Inc. filed this Form 10-Q for the quarter ended June 30, 2012. For the six months ended June 30, 2012, revenues were $719.7 million, up 12.4% from $640.1 million, and net income was $147.9 million versus $131.5 million a year earlier. Diluted EPS was $0.86 compared with $0.75. Growth was driven largely by the MediConnect acquisition in Decision Analytics, which the filing says contributed $34.8 million of revenue for the six months. Excluding recent acquisitions, revenues rose 7.0%. Operating income was $277.4 million, and EBITDA was $323.4 million, with an EBITDA margin of 44.9%. The balance sheet shows total assets of $1.85 billion and stockholders' equity of $46.7 million, up from a deficit of $(98.5) million at year-end 2011. Goodwill and intangibles rose sharply with the MediConnect purchase, which the filing says had a net cash price of approximately $331.3 million. Cash and equivalents fell to $97.2 million, and short-term debt rose to $201.8 million, including a $150.0 million draw on the revolving credit facility. Operating cash flow was $187.4 million, flat year over year, and the company repurchased $107.0 million of Class A stock during the period. The filing also discloses two pending lawsuits: the Citizens Insurance litigation involving Xactware's 360Value product, and the Intellicorp Records class action. For both, the company states it cannot currently determine the ultimate resolution or estimate the liability. A subsequent event note reports the July 2, 2012 acquisition of Aspect Loss Prevention, LLC for a net cash price of approximately $6.9 million.

    Jul 31, 2012
  44. 2012-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2012

    Verisk Analytics, Inc. reported first-quarter 2012 revenues of $346.5 million, up from $312.9 million a year earlier, with operating income of $138.96 million versus $119.3 million and net income of $74.6 million compared with $65.9 million. Diluted EPS was $0.44 versus $0.37. Revenue growth was led by Decision Analytics, which rose to $201.5 million from $172.3 million, including healthcare revenue that more than doubled as a result of acquisitions. Risk Assessment revenue increased to $145.0 million from $140.5 million. Segment EBITDA rose to $159.2 million from $139.1 million, and the EBITDA margin was 45.9% compared with 44.4%. The balance sheet shows total stockholders' deficit of $(10.3) million at March 31, 2012, compared with $(98.5) million at year-end 2011, and total debt of $1.23 billion. The company acquired MediConnect Global, Inc. on March 30, 2012 for a net cash purchase price of approximately $330.8 million, plus $17.0 million of indemnity escrows. Goodwill increased to $933.3 million and intangible assets to $375.7 million as a result. Cash and cash equivalents fell to $114.9 million, and the company drew $125.0 million on its revolving credit facility. Operating cash flow was $189.6 million, and the company repurchased 917,987 Class A shares for $38.9 million under its program. The filing also discloses a hard freeze of the pension plans effective February 29, 2012, and an April 2012 voluntary prefunding of the pension plan of $72.0 million. It identifies two newly filed lawsuits, the Citizens Insurance litigation and the Intellicorp Records litigation, for which the company states it cannot currently estimate the potential liability.

    May 1, 2012
  45. 2011-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2011

    Verisk Analytics, Inc. (VRSK) reported third-quarter 2011 revenues of $340.1 million, up 18.4% from $287.4 million a year earlier, and nine-month revenues of $980.2 million, up 16.0%. Net income for the quarter was $71.0 million (diluted EPS $0.41, versus $0.34), and nine-month net income was $202.4 million (diluted EPS $1.16, versus $0.94). Growth was led by the Decision Analytics segment, whose revenues rose 32.5% in the quarter and 27.1% for the nine months, with recent acquisitions (HRP, Bloodhound, 3E, Crowe Paradis and Strategic Analytics) contributing $70.6 million of the nine-month revenue increase. Risk Assessment revenues grew 2.7% in the quarter and 3.9% for the nine months. The balance sheet shows total debt of $1.02 billion at September 30, 2011, up from $839.5 million at year-end 2010, following a $450.0 million issuance of 5.80% senior notes due 2021 in April 2011. The company repurchased $340.1 million of Class A common stock during the nine months, and total stockholders' deficit stood at $158.9 million. Cash and cash equivalents were $52.8 million. Subsequent to quarter end, on October 25, 2011, the revolving credit facility was amended to increase capacity from $600.0 million to $700.0 million and extend maturity to October 2016. Interest expense rose to $39.1 million for the nine months from $25.4 million, reflecting the new senior notes. The effective tax rate was 39.7% for the nine months. Management reported EBITDA of $433.6 million for the nine months, a 44.2% EBITDA margin. Pending litigation, including the Louisiana Xactware cases and the iiX Driver Privacy Protection Act appeal, is described without a determinable outcome.

    Nov 1, 2011
  46. 2011-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2011

    Verisk Analytics, Inc. (VRSK) reported revenues of $640.1 million for the six months ended June 30, 2011, up from $557.8 million a year earlier, and net income of $131.5 million versus $113.8 million. For the three months ended June 30, 2011, revenues were $327.3 million (compared to $281.7 million) and net income was $65.6 million (compared to $58.4 million). Decision Analytics drove much of the growth, with segment revenues of $359.1 million for the six months, and the filing attributes $39.5 million of that six-month increase to recent acquisitions, including Health Risk Partners and Bloodhound Technologies. The balance sheet shows a stockholders' deficit of $144.4 million, which reflects substantial share repurchases funded by debt. Total debt rose to $1,025.2 million from $839.5 million at December 31, 2010, following the April 2011 issuance of $450.0 million of 5.80% senior notes due 2021. The company repurchased 6,499,212 Class A shares during the six months at a weighted average price of $33.40, and on July 8, 2011 the board authorized an additional $150.0 million under the repurchase program, bringing total authorization to $600.0 million. Operating cash flow was $187.1 million for the six months, up from $173.0 million. Interest expense rose 44.9% to $24.5 million, and the filing notes higher average debt and a higher weighted average interest rate. Management concluded that disclosure controls were effective as of June 30, 2011, and the company reported no material change in its risk factors except for expanded disclosure on mortgage-vertical revenue exposure.

    Aug 2, 2011
  47. 2011-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2011

    Verisk Analytics, Inc. reported first-quarter 2011 revenues of $312.9 million, up from $276.2 million in the prior-year quarter, an increase of $36.7 million or 13.3%. Net income rose to $65.9 million from $55.4 million, and diluted EPS was $0.37 versus $0.29. Operating income was $119.3 million compared with $106.4 million. Decision Analytics revenue grew 21.7% to $172.3 million, while Risk Assessment grew 4.4% to $140.6 million. Consolidated EBITDA margin was 44.4% versus 44.8%, and recent acquisitions mitigated margin expansion by 1.8%. The balance sheet still shows a stockholders' deficit of $(109.1) million at March 31, 2011. Cash and cash equivalents were $101.2 million, and total debt was $830.5 million, of which $700.5 million was long-term. Operating cash flow was $145.6 million for the quarter. The company repurchased $73.6 million of Class A common stock during the quarter and had $164.1 million remaining under its repurchase program. Subsequent to quarter-end, Verisk issued $450.0 million of 5.80% senior notes due 2021 on April 6, 2011, with net proceeds of $446.0 million, and used part of the proceeds to repay $295.0 million outstanding under its revolving credit facility. On April 27, 2011, it acquired Bloodhound Technologies, Inc. for a net cash price of $82.0 million. The company also disclosed ongoing litigation, including the Hanover indemnification demand in the Hensley matter and the Xactware-related Schafer and Mornay cases, for which it stated it could not estimate the ultimate liability.

    May 3, 2011
  48. 2010-Q3

    Verisk Analytics Quarterly Report for Q3 Ended Sep 30, 2010

    Verisk Analytics, Inc. filed its Form 10-Q for the quarter ended September 30, 2010 on November 3, 2010. For the three months ended September 30, 2010, revenues were $287.4 million, up 11.2% from $258.3 million, and net income was $62.9 million versus $42.2 million, or $0.34 diluted EPS versus $0.23. For the nine months, revenues were $845.2 million (up 10.9%) and net income was $176.7 million (up 32.8%), with diluted EPS of $0.94 versus $0.74. Segment EBITDA for the nine months was $377.1 million, a 20.3% increase, and the company's Decision Analytics segment grew revenue 19.2% for the period, led by fraud identification and detection solutions. The balance sheet showed cash and cash equivalents of $107.3 million at September 30, 2010, total debt (short-term plus long-term) of about $530.2 million, and stockholders' equity of $62.1 million, up from a deficit of $34.9 million at December 31, 2009. Operating cash flow for the nine months was $241.8 million, compared with $255.6 million a year earlier. During the nine months, the company repurchased 4,644,406 Class A shares for $135.6 million under a $150 million program. On October 1, 2010, a follow-on offering closed, with the company repurchasing 7.3 million Class B shares for about $192.5 million, funded partly by $160 million of revolver borrowings. On October 19, 2010, the board authorized an additional $150 million of repurchases. The filing also discloses ongoing litigation, including the Hensley, Schafer, Mornay, iiX, and Interthinx matters, for which management stated it could not determine the ultimate resolution or estimate the potential loss. Management also disclosed a non-cash tax charge of $2.4 million tied to Medicare subsidy changes in the first quarter of 2010.

    Nov 3, 2010
  49. 2010-Q2

    Verisk Analytics Quarterly Report for Q2 Ended Jun 30, 2010

    Verisk Analytics, Inc. reported revenues of $281.7 million for the three months ended June 30, 2010, up 9.2% from $257.9 million a year earlier, and $557.8 million for the six months, up 10.8% from $503.7 million. Operating income rose 21.9% to $107.1 million for the quarter, and net income increased 27.1% to $58.4 million, or $0.31 per diluted share. Decision Analytics drove much of the growth, with segment revenues up 18.3% for the quarter and 20.0% for the six months, while Risk Assessment revenues rose 0.7% and 2.3%, respectively. Consolidated EBITDA was $124.0 million for the quarter, a 17.0% increase, and the EBITDA margin was 44.0%, benefiting from the absence of ESOP allocation expense following the accelerated allocation in late 2009. Net cash provided by operating activities was $173.0 million for the six months, down from $184.5 million, mainly due to an additional payroll cycle falling in June 2010. Cash and cash equivalents rose to $106.8 million at June 30, 2010. Total debt, excluding capital lease and other obligations, was $525.0 million, down from $585.0 million at year-end 2009. The company had no borrowings under its $420.0 million syndicated revolving credit facility at June 30, 2010. On April 29, 2010, the board authorized a $150.0 million share repurchase program, under which 2,173,106 Class A shares were bought back at a weighted average price of $29.87 during the six months. The filing also discloses a non-cash tax charge of $2.4 million from the Patient Protection and Affordable Care Act and related legislation, which reduced the effective tax rate to 42.2% for the six months, compared with 41.0% excluding the charge. Pending litigation includes the Hanover indemnification demand of $2,536 thousand, and the Company states it cannot currently estimate the ultimate outcome of its legal matters.

    Aug 4, 2010
  50. 2010-Q1

    Verisk Analytics Quarterly Report for Q1 Ended Mar 31, 2010

    Verisk Analytics, Inc. (NASDAQ: VRSK) reported revenues of $276.2 million for the three months ended March 31, 2010, up from $245.8 million a year earlier, an increase of $30.4 million or 12.4%. Decision Analytics revenues grew 21.9% to $141.6 million, while Risk Assessment revenues rose 3.9% to $134.6 million. Operating income increased to $106.4 million from $87.2 million, and net income rose to $55.4 million, or $0.29 diluted earnings per share, compared with $44.9 million, or $0.25, in the prior-year quarter. The company attributed part of the margin improvement to the absence of ESOP allocation expense following the accelerated allocation completed before its October 2009 IPO. Consolidated EBITDA margin was 44.8% versus 42.7% a year earlier. The effective tax rate was 43.5%, including a non-cash tax charge of $2.4 million tied to legislative changes affecting Medicare Part D subsidies; excluding that charge the rate would have been 41.1%. Cash and cash equivalents rose to $131.0 million at March 31, 2010, and net cash provided by operating activities was $137.2 million. Total debt, excluding capital lease and other obligations, was $525.0 million, down from $585.0 million at year-end 2009, after the company repaid $60.0 million of revolver borrowings. Stockholders' equity moved to a $28.3 million positive balance from a deficit of $34.9 million at December 31, 2009. After the quarter-end, on April 29, 2010, the board authorized a $150.0 million share repurchase program for Class A common stock, which the company said is intended to offset dilution from KSOP share issuances. The company also disclosed ongoing litigation involving Claims Outcome Advisor, Xactware subsidiaries, iiX, and Interthinx, and stated it cannot currently estimate the ultimate outcome of several of these matters.

    May 6, 2010