Ehrlichman Matt sold $1.2M of PRCH

Porch Group (PRCH) will acquire Allied Trust's insurance carrier and managing general agency, adding $200M in premiums. Allied Trust operates in four U.S. states, with Louisiana as its largest market.

Porch Group (PRCH) agreed to buy Allied Trust's insurance operations for $200M, including $55M in cash, $50M deferred, and $95M for other entities. The deal, expected to close in Q1 2027, adds $200M in premiums and $25M in EBITDA annually, according to the company. PRCH may also file for an at-the-market equity offering.

Porch Group (PRCH) will acquire Allied Trust's carrier and MGA, adding ~$200M in RWP and ~$25M in Adj. EBITDA post-close. The deal, targeted for Q1 2027, is subject to approvals. Porch aims to expand its homeowners insurance business through this acquisition.

Porch Group (PRCH) plans to acquire Allied Trust, expanding its insurance services into Louisiana. The deal, expected to close in Q1 2027, is valued at approximately $200 million in premiums. Porch anticipates high-margin commissions and fees, with the transaction aligning with its 2027 targets. The company also plans an at-the-market equity offering program to sell PRCH shares.

Porch Group (NASDAQ:PRCH) reported Q2 2026 results on an earnings call. Revenue excluding reciprocal was $131.8 million, up 23% Y/Y, with Insurance Services revenue at $92.9 million. Adjusted EBITDA excluding reciprocal rose to $39.1 million. Net income attributable to shareholders was $5.6 million. Full-year 2026 guidance was raised to $506-$517 million revenue and $119-$125 million adjusted EBITDA.

US stock index futures rose in premarket after a prior selloff tied to Fed-related concerns. Microsoft shares jumped about 9% after cloud growth accelerated, while Meta fell about 8% after revenue guidance disappointed and free cash flow was weak. Bond selling slowed and 30-year yields hit a two-decade high near 5.22%. Several other earnings moves were reported, including MO, CVNA, CMG, and QCOM.