March 29, 2024

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: Lemonade stock dials again gains on earnings, outlook

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Lemonade Inc. LMND shares declined in the extended session Monday soon after the cell-based insurance coverage enterprise conquer on outcomes but furnished an underwhelming outlook for the current quarter. Lemonade shares declined 4.5% right after hrs, subsequent a 5.3% increase in the frequent session to near at $132.43. The firm claimed a fourth-quarter loss of $33.9 million, or 60 cents a share, compared with a decline of $32.7 million, or $2.90 a share, in the 12 months-in the past interval. Earnings declined to $20.5 million from $23.5 million in the year-back quarter. Analysts surveyed by FactSet had forecast a decline of 64 cents a share on earnings of $19.2 million, based on the company’s forecast of $18 million to $19 million. Lemonade expects revenue of $21.5 million to $22.5 million for the initial quarter, and $114 million to $117 million for the year. Analysts had forecast earnings of $22.1 million for the first quarter, and $111.6 million for the calendar year. Lemonade shares, which debuted 139% higher than their original pricing on their 1st working day of trade in July, are 350% higher than their $29 authentic pricing.Current market Pulse Stories are Immediate-fireplace, shorter news bursts on stocks and marketplaces as they transfer. Go to MarketWatch.com for far more information on this news.

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