ACE Limited (NYSE:ACE) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.27%.
ACE Limited Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 5.85% to $2.17 in the quarter versus EPS of $2.05 in the year-earlier quarter.
Revenue: Decreased 9.25% to $3.8 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: ACE Limited reported adjusted EPS income of $2.17 per share. By that measure, the company beat the mean analyst estimate of $1.94. It beat the average revenue estimate of $3.33 billion.
Quoting Management: Evan G. Greenberg, Chairman and Chief Executive Officer of ACE Limited, commented: “ACE had an excellent first quarter and strong start to the year. We produced $746 million in after-tax operating income and our operating ROE was 12%, driven by strong underwriting results. We had a P&C combined ratio of 88.2% that benefited from excellent current accident year underwriting income as a result of both improved margin and growth in our U.S. and international businesses.”
Key Stats (on next page)…