Verisk Analytics, Inc. (NASDAQ: VRSK) stock fell over 0.5% (as of 11:25 am GMT-5; Source: Google finance) after the company posted mixed results for the third quarter of FY 20. Claims revenues fell 3.8% in the quarter but grew 2.5% on an OCC basis due to the injunction ruling against roof measurement solutions, as well as a decline in certain transactional revenues driven by the COVID-19 pandemic. Moreover, Energy and Specialized Markets segment revenues grew 16.7% in the third quarter, but fell 1% on an OCC basis. The slight decline in the segment was mainly driven by declines in consulting revenues in connection with the COVID-19 pandemic and fall in cost intelligence solutions’ implementation projects that did not reoccur. Financial Services segment revenues fell 7.1% in the third quarter, but rose 1.6% on an OCC basis, on the back of declines in the spend informed analytic solutions stemming from the COVID-19 pandemic and the recent dispositions.

The company has reported 66% increase in the net income. Insurance segment revenues rose 6.3% in the third quarter and 5.2% on an OCC basis. Underwriting and rating revenues rose 11.3% in the third quarter and 6.5% on an OCC basis, mainly driven by annual increases in prices derived from continued enhancements to the content of the solutions within its industry-standard insurance programs, as well as selling expanded solutions to existing customers in commercial and personal lines. The catastrophe modeling services also contributed to the growth..

VRSK in the third quarter of FY 20 has reported the adjusted earnings per share of $1.32, beating the analysts’ estimates for the adjusted earnings per share of $1.21, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 7.6 percent to $702.70 million in the third quarter of FY 20, beating the analysts’ estimates for revenue by 1.45%. Adjusted OCC grew 4.9% during the period. Adjusted EBITDA increased 18.4%, and 14.8% on an OCC basis.

Additionally, the company generated 3% decrease in the Net cash provided by operating activities of $207 million for the third quarter of 2020. The company incurred the capital expenditures of $65 million for the third quarter, up 6.8%. The company generated the free cash flow was $142 million, down 6.9%. In addition, the company has a cash dividend of 27 cents per share.