AMSF

A month has gone by since the last earnings report for Amerisafe (AMSF). Shares have lost about 16% in that time frame, underperforming the S&P 500. Will the recent negative trend continue leading up to its next earnings release, or is Amerisafe due for a breakout? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent catalysts for AMERISAFE, Inc. before we dive into how investors and analysts have reacted as of late. AMERISAFE Q2 Earnings Miss Estimates Despite Strong Premium Growth AMERISAFE reported second-quarter adjusted earnings per share of 44 cents, missing the Zacks Consensus Estimate by 17%. The bottom line declined 17% year over year. Operating revenues increased 10.3% year over year to $83.95 million and topped the Zacks Consensus Estimate by 1%. The quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. Strong premium growth partly offset these headwinds. Net premiums earned of $77.3 million advanced 11.4% year over year. The metric topped the Zacks Consensus Estimate by 1.1%. Net investment income fell 2.4% year over year to $6.5 million due to lower average investable assets, partly offset by a higher book yield. The reported figure missed the Zacks Consensus Estimate by 1.1%. Fee and other income more than doubled year over year, rising 102.8%. Total expenses escalated 15.8% year over year to $73.7 million due to higher loss and loss adjustment expenses incurred, and underwriting and other operating costs. AMERISAFE’s pre-tax underwriting profit amounted to $3.6 million, which fell 37.9% year over year. Operating net income of $8.3 million declined 17.9% year over year in the reported quarter. The net combined ratio deteriorated 370 basis points year over year to 95.4%. The Zacks Consensus Estimate was pegged at 92.6%. AMERISAFE exited the second quarter with cash and cash equivalents of $65.5 million, up from $61.9 million at the end of 2025. Total assets edged down to $1.127 billion from $1.130 billion at the end of 2025. Shareholders’ equity decreased to $250 million from $251.6 million at the end of 2025. Book value per share was $13.49, down 3.4% year over year. Return on average equity improved 230 basis points year over year to 23.5%. AMERISAFE bought back common shares worth $5.6 million during the second quarter. As of June 30, 2026, $7.3 million remained under its share buyback program. Management approved a quarterly cash dividend of 41 cents per share, which will be paid on Sept. 25, 2026, to its shareholders of record as of Sept. 11. In the past month, investors have witnessed a downward trend in estimates revision. The consensus estimate has shifted -9.62% due to these changes. At this time, Amerisafe has a average Growth Score of C, however its Momentum Score is doing a lot better with an A. However, the stock was allocated a score of C on the value side, putting it in the middle 20% for value investors. Overall, the stock has an aggregate VGM Score of B. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. It's no surprise Amerisafe has a Zacks Rank #5 (Strong Sell). We expect a below average return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in AMERISAFE, Inc.? Here are five stocks we like better. AMERISAFE posted solid top-line growth in Q2, with net premiums earned up 11.4% to $77.3 million and gross written premiums up 7.9%, marking its ninth consecutive quarter of premium growth. The company said retention above 93%, higher policy count, and strong audit premiums helped drive the increase. Profitability improved modestly, but operating earnings were pressured by higher expenses and a one-time bad debt write-off of about $700,000. Net income rose to $14.6 million, while operating net income fell year over year and the expense ratio ticked up to 31.8%. Management highlighted a competitive market with rate pressure and rising medical costs, though AMERISAFE said favorable reserve development remained strong and the current accident-year loss ratio held at 72%. Executives expect competition to stay intense, but still see room for mid-single-digit growth through disciplined underwriting and retention. AMERISAFE (NASDAQ:AMSF) reported higher second-quarter premiums and continued policy growth, while executives said the workers’ compensation insurer is navigating a profitable but increasingly competitive market marked by rate pressure and rising medical costs. On the company’s second-quarter 2026 earnings call, President and CEO Janelle Frost said the workers’ compensation market “remains profitable,” but continues to show “gradual softening.” She cited rate reductions, increasing medical costs, moderating reserve redundancies and heightened competition as factors pressuring industry results. → Buyback Boom: These 3 Companies Are Betting Billions on Their Own Stocks Despite those conditions, Frost said AMERISAFE’s focus on high-hazard industries, specialized underwriting and disciplined pricing continued to support results. The company recorded its ninth consecutive quarter of premium growth, generated a return on average equity of 23.5% and increased policy count during the quarter. Net premiums earned increased 11.4% from the prior-year quarter to $77.3 million, up from $69.4 million in the second quarter of 2025, Chief Financial Officer Guillermo Ramos said. Gross written premiums rose 7.9% to $86 million from $79.7 million a year earlier. → 3 Photonics Companies Making Quantum Tech Possible Frost said the premium growth was supported by renewal retention of more than 93%, growth in policy count and favorable audit premium activity. Voluntary premiums on policies written in the quarter increased 5.7% compared with the prior-year period. Audit premiums and related adjustments contributed $4.1 million to premiums written in the quarter, compared with $1.5 million in the second quarter of 2025. Frost said payroll growth among insureds remained healthy and reflected continued economic activity in the industries AMERISAFE serves. → AI Data Centers Need Power, and These 2 Industrials Are Cashing In During the question-and-answer portion of the call, Frost said audit activity was “pretty robust” and that wage growth accounted for roughly 4.5% to 4.7% of the quarter’s payroll-related increase. Employee count represented a smaller portion of the increase, she said, adding that the company was not yet seeing a meaningful uptick in new employee counts among its insured base. Frost said wage inflation across AMERISAFE’s insured group appeared slightly above nationwide averages, which she viewed as favorable for future audit premium. She also noted that, based on industry data, wage inflation has been helping offset workers’ compensation rate declines. AMERISAFE reported second-quarter net income of $14.6 million, or $0.78 per diluted share, compared with $14 million, or $0.73 per diluted share, in the second quarter of 2025. Operating net income was $8.3 million, or $0.44 per diluted share, down from $10 million, or $0.53 per diluted share, in the prior-year quarter. Total underwriting and other expenses were $24.6 million, compared with $21.7 million in the year-ago quarter. The expense ratio was 31.8%, up from 31.3% a year earlier. Ramos said the increase was driven by one-time items that the company does not expect to recur. In response to a question from Truist analyst Mark Hughes, Ramos said the one-time item was a write-off related to an older account. He said the bad debt totaled approximately $700,000. Frost added that the account was larger than AMERISAFE’s typical policy and related to a pre-2023 policy that had been in dispute for some time. The company’s effective tax rate for the quarter was 20.1%, unchanged from the prior-year period. Frost said the current accident-year loss ratio remained 72%. Claim frequency was up from the prior accident year at the six-month mark and returned closer to 2023 levels, while severity was down from the prior accident year at six months. AMERISAFE recognized $7.3 million of favorable reserve development during the quarter from accident years 2023 and prior. Frost said favorable development remained “solidly positive” and reflected the quality of the company’s reserve position. Asked about large losses, Frost said AMERISAFE had recorded seven large losses through the first six months of the year, compared with 10 at the same point last year. Frost also discussed medical inflation, saying the company sees pressure particularly in hospitalizations and doctors associated with hospitalizations. She said industry medical inflation in 2025 was up 4% before wage adjustment, with severity also up 4%, compared with the 2% to 3% levels many had been expecting in recent years. Frost said AMERISAFE continues to support fee schedules and adherence to them as tools to help contain costs. Net investment income was $6.5 million in the quarter, down 2.4% from the second quarter of 2025. Ramos said the decline primarily reflected lower average investable assets following capital returns to shareholders through dividends and share repurchases. Ramos said the investment rate environment remained favorable, with yields on new investments exceeding portfolio roll-off yields by about 91 basis points. The tax-equivalent book yield increased to 3.9%, up six basis points from the second quarter of 2025. At quarter end, AMERISAFE held approximately $771 million in investments, cash and cash equivalents. Ramos said the portfolio had an average AA- credit rating and a duration of 4.2 years. The portfolio consisted of 60% municipal bonds, 20% corporate bonds, 3% U.S. Treasuries and agencies, 8% equity securities and 9% cash and cash equivalents. Statutory surplus was $200.8 million at quarter end, compared with $217.8 million at year-end 2025. Book value per share increased 0.7% year to date to $13.49. During the quarter, AMERISAFE repurchased approximately 181,000 shares at an average price of $30.58 per share, returning $5.6 million to shareholders. Chief Risk Officer Vincent Gagliano said competition remains intense and that the company saw “a little more aggression” during the quarter from some regular competitors, particularly package carriers. He said AMERISAFE’s strategy has not changed and continues to emphasize agency relationships, clear communication of risk appetite and selective new business. Gagliano said renewal retention remains an important part of the company’s strategy, with AMERISAFE focused on retaining the accounts it wants at healthy prices. He said the company still feels good about sustaining a mid-single-digit growth trajectory. Frost said rate reductions remain a challenge across the industry, even as medical inflation and average severities rise. Discussing recent state rate activity in response to a question from Citizens JMP analyst Matt Carletti, Frost said early indications for 2027 suggest a similar environment, with perhaps a slight decline in the rate of reductions but continued decreases overall. “As we move through the remainder of 2026, our focus has remained unchanged: profitable growth, operational excellence, strong capital management, and long-term value creation for our shareholders,” Frost said in closing remarks. Amerisafe, Inc (NASDAQ: AMSF) is a specialty provider of workers' compensation insurance products and services in the United States. The company focuses on underwriting and managing workers' compensation policies for small to mid-sized public and private businesses, particularly in higher-hazard industries such as retail, manufacturing, distribution and wholesale. Through its network of independent agents, Amerisafe delivers tailored coverage solutions that combine robust risk management support with loss prevention programs designed to enhance workplace safety. In addition to core insurance offerings, Amerisafe provides extensive risk control resources, including safety training, on-site consultations and claims management services. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "AMERISAFE Q2 Earnings Call Highlights" was originally published by MarketBeat. 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Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Delivered 11.4% growth in net premiums earned, marking the ninth consecutive quarter of growth despite a softening workers' compensation market characterized by rate reductions and heightened competition. Performance was bolstered by strong renewal retention exceeding 93% and robust payroll audit activity, reflecting healthy economic activity and wage growth within the insured base. Maintained a disciplined current accident year loss ratio of 72%, balancing a return to 2023-level claim frequencies with a slight decrease in severity at the six-month mark. Attributed continued market outperformance to specialized underwriting in high-hazard industries and a refusal to sacrifice pricing discipline for volume. Recognized $7.3 million in favorable prior-year reserve development, signaling the continued quality and redundancy of the company's reserve position. Observed that wage inflation of approximately 4.7% among insureds is currently acting as a critical offset to industry-wide loss cost declines and rate decreases. Management expects to sustain a mid-single-digit growth trajectory by prioritizing profitable new business and maintaining high retention on existing accounts. Anticipates continued pressure from medical inflation, specifically regarding hospitalizations and physician costs, which the company aims to mitigate through strict adherence to fee schedules. Early indications for 2027 rate filings suggest a potential moderation in the pace of rate reductions, though overall decreases are expected to persist. Strategic focus remains on organic growth initiatives and sales strategies launched in recent years to identify agencies that align with the company's specific risk appetite. The expense ratio increased to 31.8% due to a $700,000 bad debt write-off related to a single large account from a policy period prior to 2023. Net investment income decreased 2.4% year-over-year, primarily due to lower average investable assets following aggressive capital returns to shareholders. The investment portfolio remains conservatively positioned with a AA- average credit rating and a tax-equivalent book yield that increased to 3.9%. Returned $5.6 million to shareholders during the quarter through the repurchase of approximately 181,000 shares at an average price of $30.58. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management noted that while competition is intense, it is not limited to large players; they are seeing increased aggression from regular competitors, particularly those offering package policies. The company remains selective, emphasizing that carriers seeking growth must find new business as wage inflation is currently only sufficing to offset rate decreases. Management confirmed that medical inflation is a 'real' pressure, citing industry-wide severity increases of 4% in 2025. While AMERISAFE's severity was slightly lower at the six-month mark compared to the prior year, they cautioned against calling this a definitive trend given the early stage of the accident year. While AMERISAFE does not operate in California, management views the proposed increase as a broader recognition that medical inflation and severity are outpacing current rate levels. Management noted that while the industry remains profitable, the disconnect between falling rates and rising costs is a significant long-term concern.

This article first appeared on GuruFocus. Net Income: $14.6 million, or $0.78 per diluted share. Operating Net Income: $8.3 million, or $0.44 per diluted share. Gross Written Premiums: Increased 7.9% to $86 million. Net Premiums Earned: Increased 11.4% to $77.3 million. Underwriting and Other Expenses: $24.6 million, resulting in an expense ratio of 31.8%. Net Investment Income: $6.5 million, a decrease of 2.4% from the prior year. Book Value Per Share: Increased to $13.49, up 0.7% year-to-date. Share Repurchases: Approximately 181,000 shares at an average price of $30.58 per share. Statutory Surplus: $200.8 million at quarter end. Warning! GuruFocus has detected 4 Warning Sign with TFIN. Is AMSF fairly valued? Test your thesis with our free DCF calculator. Release Date: July 22, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. AMERISAFE Inc (NASDAQ:AMSF) delivered its ninth consecutive quarter of premium growth. The company achieved a return on average equity of 23.5%, indicating strong financial performance. Net premiums earned increased by 11.4% compared to the prior-year quarter, supported by strong renewal retention of over 93%. Gross premiums written increased by 7.9%, with voluntary premiums on policies written in the quarter increasing by 5.7% year over year. AMERISAFE Inc (NASDAQ:AMSF) recognized $7.3 million of favorable reserve development during the quarter, reflecting the continued quality of its reserve position. The workers compensation market is experiencing gradual softening, with rate reductions and increasing medical costs. Claim frequency was up from the prior accident year at six months, returning closer to 2023 levels. Total underwriting and other expenses increased to $24.6 million compared to $21.7 million in the second quarter of 2025, driven by one-time items. Net investment income decreased by 2.4% from the second quarter of 2025, primarily due to lower average investable assets. Statutory surplus decreased to $200.8 million at quarter end compared with $217.8 million at year-end 2025. Q: How does the competition this quarter compare to earlier quarters, especially with companies like Travelers and Chubb growing their workers' comp business? A: Vincent Gagliano, Executive Vice President, Chief Risk Officer, noted that competition remains intense, with some regular competitors showing more aggression, particularly package carriers. Q: Can you provide insights on the audit activity and payroll statistics? A: G. Janelle Frost, President and CEO, highlighted robust audit activity, indicating healthy economic activity in insured industries. Wage growth was around 4.5% to 4.7%, slightly above national averages, which is a positive sign for future audit premiums. Q: What was the one-time item affecting the expense ratio? A: Guillermo Ramos, Chief Financial Officer, explained it was a $700,000 bad debt write-off from an older account, which was a significant but non-recurring item. Q: How are strategies for renewal pricing and growth initiatives progressing? A: Vincent Gagliano stated that the strategies remain unchanged, focusing on working with the right agencies and maintaining profitable growth. Renewal retention and disciplined new business selection are key components. Q: What are your thoughts on medical inflation and its impact? A: G. Janelle Frost acknowledged medical inflation, particularly in hospitalizations, with industry severity up 4%. Amerisafe emphasizes fee schedules to contain costs and mitigate inflation impacts. Q: What are your views on the recent 10% rate increase approved in California and its implications? A: G. Janelle Frost noted that while cumulative trauma issues are unique to California, the rate increase also reflects broader industry trends like medical inflation and severity. Despite profitability, rates continue to decline, and companies are using flexibility to manage pricing. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

AMERISAFE, Inc. AMSF reported second-quarter adjusted earnings per share of 44 cents, missing the Zacks Consensus Estimate by 17%. The bottom line declined 17% year over year. Operating revenues increased 10.3% year over year to $83.95 million and topped the Zacks Consensus Estimate by 1%. The quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower investment income. Strong premium growth partly offset these headwinds. AMERISAFE, Inc. price-consensus-eps-surprise-chart | AMERISAFE, Inc. Quote Net premiums earned of $77.3 million advanced 11.4% year over year. The metric topped the Zacks Consensus Estimate by 1.1%. Net investment income fell 2.4% year over year to $6.5 million due to lower average investable assets, partly offset by a higher book yield. The reported figure missed the Zacks Consensus Estimate by 1.1%. Fee and other income more than doubled year over year, rising 102.8%. Total expenses escalated 15.8% year over year to $73.7 million due to higher loss and loss adjustment expenses incurred, and underwriting and other operating costs. AMERISAFE’s pre-tax underwriting profit amounted to $3.6 million, which fell 37.9% year over year. Operating net income of $8.3 million declined 17.9% year over year in the reported quarter. The net combined ratio deteriorated 370 basis points year over year to 95.4%. The Zacks Consensus Estimate was pegged at 92.6%. AMERISAFE exited the second quarter with cash and cash equivalents of $65.5 million, up from $61.9 million at the end of 2025. Total assets edged down to $1.127 billion from $1.130 billion at the end of 2025. Shareholders’ equity decreased to $250 million from $251.6 million at the end of 2025. Book value per share was $13.49, down 3.4% year over year. Return on average equity improved 230 basis points year over year to 23.5%. AMERISAFE bought back common shares worth $5.6 million during the second quarter. As of June 30, 2026, $7.3 million remained under its share buyback program. Management approved a quarterly cash dividend of 41 cents per share, which will be paid on Sept. 25, 2026, to its shareholders of record as of Sept. 11. AMSF currently carries a Zacks Rank #3 (Hold). Some better-ranked stocks in the broader finance space are Trupanion, Inc. TRUP, Cincinnati Financial Corporation CINF and The Hanover Insurance Group, Inc. THG, each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Trupanion is set to report second-quarter 2026 results on Aug. 5, after the market closes. The Zacks Consensus Estimate for earnings is pegged at 11 cents per share, which has remained stable over the past 60 days. The company's earnings beat estimates in three of the trailing four quarters and missed once, with the average surprise being 250%. The consensus estimate for Trupanion’s second-quarter revenues is pinned at $389.65 million, indicating a 10.2% year-over-year increase. Cincinnati Financial is set to report second-quarter 2026 results on July 27, after the market closes. The Zacks Consensus Estimate for earnings is pegged at $1.82 per share, which has witnessed two upward revisions over the past 60 days, with no movement in the opposite direction. The company's earnings beat estimates in each of the trailing four quarters, with the average surprise being 27.5%. The consensus mark for Cincinnati Financial’s second-quarter revenues is pinned at $3.01 billion. The Hanover Insurance is set to report second-quarter 2026 results on July 28, after the market closes. The Zacks Consensus Estimate for earnings is pegged at $3.88 per share, which has witnessed one upward revision in the past 60 days, with no movement in the opposite direction. The company's earnings beat estimates in each of the trailing four quarters, with the average surprise being 28.5%. The consensus estimate for Hanover Insurance’s second-quarter revenues is pinned at $1.73 billion. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report Cincinnati Financial Corporation (CINF) : Free Stock Analysis Report The Hanover Insurance Group, Inc. (THG) : Free Stock Analysis Report Trupanion, Inc. (TRUP) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Reports 11.4% Growth in Net Premiums Earned DERIDDER, La., July 21, 2026--(BUSINESS WIRE)--AMERISAFE, Inc. (Nasdaq: AMSF), a specialty provider of workers’ compensation insurance focused on high-hazard industries, today announced results for the second quarter ended June 30, 2026. G. Janelle Frost, President and Chief Executive Officer, commented, "Our second quarter results reflect the strength of AMERISAFE’s disciplined approach to profitable growth. We achieved our ninth consecutive quarter of top-line growth while continuing to generate attractive returns for shareholders, with return on average equity of 23.5% for the quarter and 18.1% through the first six months of 2026. In a highly competitive market, we remain focused on underwriting discipline, appropriate pricing, and disciplined capital management—principles that have consistently supported profitability, balance sheet strength, and long-term value creation." INSURANCE RESULTS Voluntary premiums on policies written in the quarter increased 5.7%, compared to the second quarter of 2025, driven by strong policy and premium retention within our renewal book. Payroll audits and related premium adjustments contributed $4.1 million to premiums written in the quarter, compared to $1.5 million in the second quarter of 2025. Loss and loss adjustment expenses benefited from $7.3 million of favorable case reserve development on accident years 2023 and prior, resulting in a net loss ratio of 62.6%, compared to favorable prior accident year development of $8.6 million and a net loss ratio of 58.6% in the second quarter of 2025. Underwriting expense ratio was 31.8% for the quarter, compared with 31.3% in the second quarter of 2025. The increase was primarily attributable to higher prior-period write-offs, which we do not expect to recur. Our effective tax rate for the quarter was 20.1%, unchanged from the second quarter of 2025. INVESTMENT RESULTS Net investment income decreased 2.4% to $6.5 million for the quarter, driven by lower average investable assets compared to the prior-year period, primarily due to capital returned to shareholders through dividends and share repurchases, which reduced cash and invested asset balances during the period, partially offset by a higher book yield and disciplined expense management. Net unrealized gains on equity securities were $8.1 million for the quarter, driven by stronger U.S. equity markets, compared to lower valuations experienced during the prior-year quarter. As of June 30, 2026, the carrying value of AMERISAFE’s investment portfolio, including cash and cash equivalents, was $770.7 million. CAPITAL MANAGEMENT During the second quarter of 2026, the Company paid a regular quarterly cash dividend of $0.41 per share on June 19, 2026, representing a 5.1% increase compared to the second quarter of 2025. On July 21, 2026, the Board of Directors of AMERISAFE declared a quarterly cash dividend of $0.41 per share, payable on September 25, 2026, to shareholders of record as of September 11, 2026. Also during the quarter, the Company repurchased 184,093 shares of its common stock under the Company’s share repurchase program at an average cost of $30.58 per share, including commissions and excise tax, for a total of $5.6 million. Since the inception of its share repurchase program in 2010, the Company has repurchased 2,278,192 shares at an average cost of $28.01 per share, including commissions and excise tax, for a total of $63.8 million. The remaining outstanding share repurchase authorization under the program as of June 30, 2026, was $7.3 million. Book value per share at June 30, 2026, was $13.49, an increase of 0.7% from $13.39 at December 31, 2025. SUPPLEMENTAL INFORMATION NON-GAAP FINANCIAL MEASURES This release contains non-GAAP financial measures within the meaning of Regulation G promulgated by the U.S. Securities and Exchange Commission (the SEC) and includes a reconciliation of non-GAAP financial measures to the most directly comparable financial measures calculated in accordance with GAAP in the Supplemental Information in this release. Management believes that investors’ understanding of core operating performance is enhanced by AMERISAFE’s disclosure of these standard industry financial measures, which include operating net income, average adjusted shareholders’ equity, operating return on average adjusted equity, and operating earnings per share. CONFERENCE CALL INFORMATION AMERISAFE has scheduled a conference call for July 22, 2026, at 10:30 a.m. Eastern Time to discuss the results for the quarter. To participate in the conference call, dial 786-297-8744 (Conference Code: 9523038) at least ten minutes before the call begins. Investors, analysts, and the general public will also have the opportunity to listen to the conference call over the Internet by visiting the "Investor Relations Home" page of the "Investors" section of the Company’s website (http://www.amerisafe.com). To listen to the live call on the web, please visit the website at least fifteen minutes before the call begins to register, download, and install any necessary audio software. For those who cannot listen to the live webcast, an archive will be available shortly after the call at the same website location. ABOUT AMERISAFE AMERISAFE, Inc. is a specialty provider of workers’ compensation insurance focused on small to mid-sized employers engaged in hazardous industries, principally construction, trucking, logging and lumber, agriculture, services, manufacturing, and maritime. AMERISAFE actively markets workers’ compensation insurance in 27 states. CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Statements made in this press release that are not historical facts, including statements accompanied by words such as "will," "believe," "anticipate," "expect," "estimate," or similar words, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 regarding AMERISAFE’s plans, expectations and performance. These statements are based on management’s estimates, assumptions and projections as of the date of this release and are not guarantees of future performance, and include statements regarding management’s current views and expectations of the workers’ compensation insurance market, AMERISAFE’s growth opportunities, underwriting margins and actions by competitors. Investors are cautioned that many of the assumptions upon which these forward-looking statements are based might change after the date the forward-looking statements are made. Actual results may differ materially from the results expressed or implied in the forward-looking statements if the underlying assumptions prove to be incorrect or changes otherwise occur, or as the results of the materialization of risks, uncertainties and other factors impacting the business and operations of the Company, our policyholders or the market value of our investment portfolio. Factors that may affect our results are set forth in the Company’s filings with the SEC, including AMERISAFE’s Annual Report on Form 10-K and as may be further amended by subsequent filings with the SEC. AMERISAFE cautions you not to place undue reliance on the forward-looking statements contained in this release. AMERISAFE does not undertake any obligation to update or revise any forward-looking statements, which speak only as of the date made, notwithstanding any changes in its assumptions, changes in business plans, actual experience or other changes that arise after the date of this release. Share repurchases may be effected from time to time pursuant to trading plans meeting the requirements of Rule 10b5-1 under the Exchange Act. The share repurchase program does not obligate the Company to repurchase any shares of the Company’s common stock and may be modified, increased, suspended or terminated at the discretion of the Board. The Board’s determination will depend on a variety of factors, including but not limited to, market conditions and applicable regulatory considerations. It is anticipated that any future repurchases will be funded from available capital. - Tables to Follow - View source version on businesswire.com: https://www.businesswire.com/news/home/20260721613664/en/ Contacts Guillermo A. Ramos EVP & CFO AMERISAFE337.463.9052

Amerisafe (AMSF) came out with quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.53 per share. This compares to earnings of $0.53 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -16.98%. A quarter ago, it was expected that this insurance provider would post earnings of $0.52 per share when it actually produced earnings of $0.5, delivering a surprise of -3.85%. Over the last four quarters, the company has not been able to surpass consensus EPS estimates. Amerisafe, which belongs to the Zacks Insurance - Accident and Health industry, posted revenues of $83.95 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 1.02%. This compares to year-ago revenues of $76.14 million. The company has topped consensus revenue estimates two times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Amerisafe shares have lost about 10.7% since the beginning of the year versus the S&P 500's gain of 8.7%. While Amerisafe has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Amerisafe was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.52 on $84.1 million in revenues for the coming quarter and $2.08 on $333.8 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Insurance - Accident and Health is currently in the top 30% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Unum (UNM), has yet to report results for the quarter ended June 2026. The results are expected to be released on July 28. This insurance company is expected to post quarterly earnings of $2.14 per share in its upcoming report, which represents a year-over-year change of +3.4%. The consensus EPS estimate for the quarter has been revised 0.7% lower over the last 30 days to the current level. Unum's revenues are expected to be $2.95 billion, down 12.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report Unum Group (UNM) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

It has been about a month since the last earnings report for Amerisafe (AMSF). Shares have added about 0.7% in that time frame, underperforming the S&P 500. But investors have to be wondering, will the recent positive trend continue leading up to its next earnings release, or is Amerisafe due for a pullback? Well, first let's take a quick look at the most recent earnings report in order to get a better handle on the recent drivers for AMERISAFE, Inc. before we dive into how investors and analysts have reacted as of late. AMSF Q1 Earnings Miss Estimates on Higher Costs, Soft Underwriting AMERISAFE reported first-quarter 2026 adjusted earnings per share of 50 cents, which missed the Zacks Consensus Estimate of 52 cents. The bottom line declined 16.7% year over year. Operating revenues increased 7.9% year over year to $81.75 million but missed the consensus estimate by 0.9%. The quarterly result was affected by higher expenses and weaker underwriting margins, with additional pressure from lower fee income and weaker investment income. Stronger premium growth partially offset the downside. Net premiums earned of $75.1 million advanced 9% year over year. The metric missed the Zacks Consensus Estimate by 0.8%. Net investment income declined 0.8% year over year to $6.6 million due to lower average investable assets, partly offset by higher yield and lower expenses. The reported figure missed the Zacks Consensus Estimate by 1.5%. Fee and other income fell 63.3% year over year. Total expenses escalated 13.9% year over year to $69.9 million due to higher loss and loss adjustment expenses incurred, underwriting and other operating costs and policyholder dividends. AMERISAFE’s pre-tax underwriting profit amounted to $5.1 million, which fell 31.5% year over year. Operating net income of $9.5 million declined 17.4% year over year in the reported quarter. The net combined ratio deteriorated 410 basis points year over year to 93.2. The Zacks Consensus Estimates was pegged at 92.7. AMERISAFE exited the first quarter with cash and cash equivalents of $34.2 million, down from $61.9 million at the end of 2025. Total assets declined to $1.12 billion from $1.13 billion at the end of 2025. Shareholders’ equity decreased to $246.6 million from $251.6 million a year ago. Book value per share was $13.18, down 3.7% year over year. Return on average equity declined 70 basis points year over year to 13.1%. AMERISAFE bought back common shares worth $4 million during the first quarter. As of March 31, 2026, it had $12.9 million left under its share buyback program. Management approved a quarterly cash dividend of 41 cents per share, which will be paid on June 19, 2026, to shareholders of record as of June 12, 2026. In the past month, investors have witnessed a downward trend in estimates revision. At this time, Amerisafe has a poor Growth Score of F, a score with the same score on the momentum front. However, the stock has a score of C on the value side, putting it in the middle 20% for this investment strategy. Overall, the stock has an aggregate VGM Score of F. If you aren't focused on one strategy, this score is the one you should be interested in. Estimates have been broadly trending downward for the stock, and the magnitude of this revision indicates a downward shift. Interestingly, Amerisafe has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report AMERISAFE, Inc. (AMSF) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Achieved 9% growth in net premiums earned, marking the eighth consecutive quarter of premium expansion despite a prolonged soft pricing environment. Performance was driven by a 92.4% policy retention rate and an 8.2% increase in combined new and renewal voluntary premiums. Management attributes sustained success to a differentiated high-hazard industry focus and appropriately priced risk selection in a competitive market. The expense ratio improved to 29.7%, reflecting disciplined expense management and increased operating leverage from strategic growth initiatives. Payroll growth within targeted classes remained positive at 4.5%, primarily driven by wage increases while headcount remained essentially flat. Favorable prior year loss development contributed 10.1 points to the net loss ratio, underscoring the strength of the company's historical reserving practices. Management expects continued mid-single-digit decreases in filed loss costs for 2026, with their five biggest states ranging from 1.2% to 9% declines. The company anticipates ongoing upward pressure on current accident year loss ratios due to persistent medical inflation and general claim severity. Strategic growth initiatives are expected to remain sustainable in the mid-single-digit range by focusing on incremental growth without altering the core risk profile. Future results will likely be influenced by the industry-wide trend of deteriorating accident year combined ratios as 12 years of declining rates take effect. Medical inflation is identified as a persistent headwind, though management believes current fee schedules are effectively helping to contain costs. The policyholder dividend ratio increased to 1.8% due to policy count growth, as more policyholders qualified for dividends based on individual experience. Net investment income saw a slight 0.8% decrease due to lower average investable assets, despite a 174 basis point increase in new money yields. The company repurchased approximately 120,000 shares for $4 million during the quarter, with $12.9 million remaining under the current authorization. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management confirmed medical inflation is a significant factor being actively reserved for, though fee schedules currently mitigate some impact. Noted that NCCI data from the prior year showed a 6% increase in medical severity, which has heightened industry-wide awareness of the issue. CEO Janelle Frost expressed confidence that mid-single-digit growth is sustainable because it is being achieved across all industry classes and states. The growth is attributed to a multi-year strategy of executing small incremental gains without changing the company's fundamental risk appetite. The company maintains a liability duration of 3 to 4 years, which is shorter than the industry average for workers' compensation. This shorter duration is a deliberate result of a high-touch claims model focused on early intervention and rapid settlement of severe claims. Management acknowledged that while frequency continues to decline, it is expected to reach a floor eventually as accidents are inherent to human labor. The ongoing decline is partly attributed to the broader economic shift from manufacturing toward service-related jobs which are inherently safer. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.