Shares of Goosehead Insurance Inc. (GSHD) surged 5.45% on October 24, 2024, following the company's impressive third-quarter 2024 earnings report and positive analyst coverage. The Texas-based insurance brokerage firm reported record profitability and reached a significant milestone of $1 billion in premiums written within a single quarter for the first time.

According to the earnings call highlights, Goosehead Insurance achieved strong growth across multiple key metrics. The company's franchise premium grew by 33% to $825 million, while corporate premium increased by 12% to $204 million. Adjusted EBITDA rose by 17% to $26.1 million, with a margin expansion of 193 basis points to 34%.

The company attributed its success to significant improvements in its recruiting process, resulting in the largest and highest quality college recruiting class ever. Additionally, franchise productivity improved by 52% year-over-year, driven by increased referral partner activations and refined sales processes. Client retention rates have stabilized at 84%, with expectations for improvement as market conditions improve.