- Consolidated revenues were $726.1 million, up 5.3%, and up 3.4% on an organic constant currency (OCC) basis for the first quarter of 2021.
- Net income attributable to Verisk was $168.6 million, down 1.8% for the first quarter of 2021. Adjusted EBITDA, a non-GAAP measure, was $345.5 million, up 8.7%, and up 5.2% on an OCC basis.
- Diluted GAAP earnings per share attributable to Verisk (diluted EPS) were $1.03 for the first quarter of 2021, down 1.0%. Diluted adjusted earnings per share (diluted adjusted EPS), a non-GAAP measure, were $1.23, up 5.1%.
- Net cash provided by operating activities was $448.7 million, up 23.7% for the first quarter of 2021. Free cash flow, a non-GAAP measure, was $389.5 million, up 25.8%.
- We paid a cash dividend of 29 cents per share on March 31, 2021. Our Board of Directors approved a cash dividend of 29 cents per share payable on June 30, 2021.
- We repurchased $100.0 million of our shares during the first quarter of 2021.
JERSEY CITY, N.J., May 4, 2021 — Verisk (Nasdaq:VRSK), a leading global data analytics provider, today announced results for the first quarter ended March 31, 2021.
Scott Stephenson, chairman, president, and CEO, said, “I am very pleased with our start to 2021. Our first-quarter results demonstrate solid financial performance and continued operating excellence despite the ongoing challenges from the pandemic. As we mark our 50th anniversary, our mission remains the same as it was at the start — to serve as a trusted partner to our customers by transforming data into insights and operational efficiencies and to solve their most complex problems. We have strong conviction in our long-term growth strategy and our plans to create durable shareholder value."
Lee Shavel, CFO and group president, said, “Verisk delivered organic constant currency revenue growth of 3.4% and organic constant currency adjusted EBITDA growth of 5.2% in the first quarter, led by continued strength in our insurance business. We generated solid free cash flow to invest in future growth opportunities while also returning capital to shareholders. We remain focused on maximizing value creation for all our stakeholders.”
View the full Verisk Q1 2021 Financial Results
About Verisk
Verisk (Nasdaq:VRSK) provides predictive analytics and decision-support solutions to customers in the insurance, energy and specialized markets, and financial services industries. More than 70 percent of the FORTUNE 100 relies on the company’s advanced technologies to manage risks, make better decisions and improve operating efficiency. The company’s analytic solutions address insurance underwriting and claims, fraud, regulatory compliance, natural resources, catastrophes, economic forecasting, geopolitical risks, as well as environmental, social, and governance (ESG) matters. Celebrating its 50th anniversary, the company continues to make the world better, safer and stronger, and fosters an inclusive and diverse culture where all team members feel they belong. With more than 100 offices in nearly 35 countries, Verisk consistently earns certification by Great Place to Work. For more: Verisk.com, LinkedIn, Twitter, Facebook, and YouTube.