Root Stock Is Soaring Thursday: What's Going On?
Root Stock Is Soaring Thursday: What's Going On?
"This is a pivotal moment for Root. This quarter validates the strength of our business model, our technology, and our customer value proposition. We have maintained conviction that our data science and machine learning acumen, our modern technology stack, and our delightful customer experiences would ultimately combine to drive the company to net income profitability. And that's exactly what happened," the company said in a letter to shareholders.Root, Inc. (NASDAQ:ROOT) shares are trading higher Thursday after the company reported better-than-expected third-quarter earnings. Here's what you need to know.
納斯達克股票代碼 ROOT 的根公司週四交易上漲，因報告顯示第三季度盈利好於預期。以下是您需要了解的信息。
What To Know: Root posted earnings per share of $1.35, beating estimates for a loss of 98 cents per share. Revenue came in at $305.7 million, beating analyst estimates of $275.36 million, according to Benzinga Pro.
重要信息：ROOT 的每股收益爲 1.35 美元，超出預期的每股虧損 98 美分。營業收入爲 30570萬 美元，超出分析師預期的 27536萬 美元，據貝寧扎 Pro 報導。
Root said it reached net income profitability for the first time in company history. The company noted that its strong quarterly results were driven by targeted acquisition investment, loss ratio performance and the efficiency of the company's fixed expense base as growth continues.
根公司表示，首次實現淨利潤。該公司指出，其強勁的季度業績受有針對性的收購投資、虧損率表現以及公司固定費用基礎的高效性推動隨着增長的延續。
"This is a pivotal moment for Root. This quarter validates the strength of our business model, our technology, and our customer value proposition. We have maintained conviction that our data science and machine learning acumen, our modern technology stack, and our delightful customer experiences would ultimately combine to drive the company to net income profitability. And that's exactly what happened," the company said in a letter to shareholders.
「這對根公司來說是一個關鍵時刻。本季度證實了我們的商業模式、技術和客戶價值主張的實力。我們堅定地認爲我們的數據科學和機器學習能力、現代技術堆棧以及愉快的客戶體驗最終將共同推動公司實現淨利潤。而事實正是如此，」公司在一封致股東的信中表示。
Root highlighted that it recently refinanced and reduced its debt. The company said its partnership channel continues to grow at impressive rates. Root also noted that it has continued to grow policies in force gradually in the fourth quarter after policies in force grew 57% in the third quarter.
根公司強調最近進行了再融資並減少了債務。該公司表示其合作渠道繼續以驚人的速度增長。根還指出，在第三季度保單數增長了57% 後，第四季度逐漸增加了保單數。
"While this quarter certainly validated our conviction, we are just getting started. With a strong capital position and ability to drive profit, we are excited to increasingly focus on profitable growth. We will continue to invest our profits into the business to drive long term value creation, which will naturally increase our operating expenses in the near term," the company said.
「儘管本季度確實驗證了我們的信念，但我們才剛剛起步。憑藉強大的資本實力和盈利推動能力，我們很高興能更多地專注於盈利增長。我們將繼續將利潤投入業務以推動長期價值創造，這將自然地在短期內增加我們的營業費用，」公司表示。
Root also announced Thursday morning that it refinanced its term loan with BlackRock, reducing the principal amount by $100 million. At current interest rates, the amended loan will reduce Root's interest expense by approximately 50% on a run-rate basis.
根公司還宣佈週四早上將其貸款期限與貝萊德進行了再融資，將本金金額減少了 10000萬美元。根據當前利率，修改後的貸款將按照年度基準削減根的利息支出約 50%。
"We are excited to complete the refinancing of our term loan, which demonstrates the strength of our business model, our improved operational performance, and BlackRock's continued confidence in our long-term growth outlook," said Root CFO Megan Binkley.
「我們很高興完成了我們的期限貸款再融資，這展示了我們業務模式的實力，我們改善的運營表現以及貝萊德對我們長期增長前景的信心，」Root首席財務官Megan Binkley表示。
ROOT Price Action: Root shares were up 108.1% at $84.25 at the time of writing, according to Benzinga Pro.
ROOt股價走勢：根股價在撰寫時上漲了108.1%，報84.25美元，根據Benzinga Pro。
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譯文內容由第三人軟體翻譯。
