Porch Group Inc. (NASDAQ:PRCH) shares jumped 22.18% to $19.92 in after-hours trading Wednesday after a 400% earnings per share beat in its third-quarter results.
Strong Q3 Data
The Washington-based vertical software and homeowners insurance platform announced results for the period ended Sept. 30.
Revenue came in at $143.86 million, beating the analyst estimate of $133.22 million by 7.99%, according to earnings data.
Earnings per share were $0.10, surpassing the expected $0.02 by 400%.
Net income attributable to Porch was $12.2 million, compared with a $10.9 million loss a year earlier. That figure excludes the Porch Reciprocal Exchange, an insurer owned by its policyholders, not Porch shareholders.
Revenue from Porch-owned segments, excluding the Reciprocal, rose 22% year over year to $140.8 million
Raised Guidance and Allied Trust Deal Add Momentum
Porch also raised its 2026 outlook. It now expects Adjusted EBITDA of $135 million to $140 million, up from $119 million to $125 million. Revenue guidance rose to $518 million to $523 million.
CEO Matt Ehrlichman said, "Porch continues to execute at a high level," pointing to the 42% growth in Reciprocal Policies Written and the company’s raised full-year outlook.
Separately, Porch plans to expand through its pending acquisition of Allied Trust, agreed on Oct. 13. It will pay $95 million for Allied’s managing general agency and captive reinsurance units.
Trading Metrics, Technical Analysis
Porch Group has a market capitalization of approximately $1.85 billion. Its stock has traded between a 52-week high of $18.75 and a 52-week low of $6.36.
PRCH has a Relative Strength Index (RSI) of 41.26.
Over the past 12 months, the stock has gained 6.40%.
Price Action: In the regular session on Wednesday, PRCH stock closed at $16.30, down 7.70%, according to Benzinga Pro data.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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