Verisk repays $120 million debt in Q3, ends period with increased cash

By Lisa Kerner

Charlotte, N.C., Oct. 28 – Verisk Analytics, Inc. ended its third quarter on Sept. 30 with cash and cash equivalents of about $169 million and long-term debt of about $2.3 billion.

This compares to $39 million and $1.1 billion, respectively, on Dec. 31, according to the earnings news release.

Verisk said it repaid $120 million of debt in the quarter.

The third-quarter results were “solid,” said president and chief executive officer Scott Stephenson during a conference call to discuss the results.

Revenue for the period was up 22.7% year over year at $550 million.

Income from continuing operations increased 33.1% to $131.8 million, while adjusted EBITDA increased 31.9% to $278.8 million.

Free cash flow for the nine months ended Sept. 30 totaled $414.3 million, a 50.3% increase from the prior-year period.

In addition to its quarterly results, Verisk announced it is exploring strategic alternatives for its healthcare data analytics business, Verisk Health.

Verisk is a risk analysis and management company based in Jersey City, N.J.

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