Arch Capital Group Ltd. Earnings Cheat Sheet: Beats the Street Despite Profit Decline

Arch Capital Group Ltd. (NASDAQ:ACGL) posted lower net income in the second quarter compared with a year-earlier period. Arch Capital Group Ltd. provides insurance and reinsurance on a worldwide basis through its wholly owned subsidiaries.

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Arch Capital Group Earnings Cheat Sheet for the Second Quarter

Results: Net income for the property and casualty insurance company fell to $98.3 million (67 cents per share) vs. $243.5 million ($1.48 per share) a year earlier. This is a decline of 59.6% from the year earlier quarter.

Actual vs. Wall St. Expectations: ACGL beat the mean analyst estimate of 20 cents per share.

Key Stats:

The company has now seen net income fall in each of the last four quarters. In the first quarter, net income fell 88.1% while the figure fell 19.6% in the fourth quarter of the last fiscal year and 47.3% in the third quarter of the last fiscal year.

The company has now topped analyst estimates for the last four quarters. It beat the mark by 33 cents in the first quarter, by 8 cents in the fourth quarter of the last fiscal year, and by 9 cents in the third quarter of the last fiscal year.

Competitors to Watch: Endurance Specialty Hldgs. Ltd. (NYSE:ENH), Alterra Capital Hldgs. Ltd. (NASDAQ:ALTE), Allied World Assurance Co Hldgs., AG. (NYSE:AWH), PartnerRe Ltd. (NYSE:PRE), W.R. Berkley Corporation (NYSE:WRB), Everest Re Group, Ltd. (NYSE:RE), ACE Limited (NYSE:ACE), Argo Group Intl. Hldgs., Ltd. (NASDAQ:AGII), and Axis Capital Holdings Ltd. (NYSE:AXS).

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(Source: Xignite Financials)