Assurant Earnings: Beats the Street on Profit Rise

S&P 500 (NYSE:SPY) component Assurant Inc. (NYSE:AIZ) reported net income above Wall Street’s expectations for the second quarter. Assurant provides specialized insurance products and related services in North America and some international markets.

Investing Insights: Is TV the Next Bullish Catalyst for Apple’s Stock?

Assurant Inc. Earnings Cheat Sheet

Results: Net income for Assurant Inc. rose to $169.2 million ($1.94 per share) vs. $165.9 million ($1.68 per share) in the same quarter a year earlier. This marks a rise of 2% from the year-earlier quarter.

Revenue: Rose 3.2% to $2.13 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Assurant Inc. beat the mean analyst estimate of $1.41 per share. It beat the average revenue estimate of $2.08 billion.

Quoting Management: “Assurant’s disciplined actions are generating solid results as we focus on areas targeted for profitable growth,” said Robert B. Pollock, president and CEO of Assurant. “We are meeting the challenges of today’s marketplace as we provide outstanding service for consumers and clients alike while creating long-term value for our shareholders.”

Key Stats:

The company has now surpassed analyst estimates for four quarters in a row. It beat the mark by 33 cents in the first quarter, by 28 cents in the fourth quarter of the last fiscal year, and by 2 cents in the third quarter of the last fiscal year.

Revenue has now increased for three quarters in a row. In the first quarter, revenue rose 1.8% to $2.07 billion while the figure rose 0.3% in the fourth quarter of the last fiscal year from the year earlier.

Looking Forward: Over the last 30 days, analysts have not been optimistic about the company’s next-quarter performance. The average estimate for the third quarter is now $1.23 per share, down from $1.25. The average estimate for the fiscal year is $5.93 per share, a rise from $5.59 ninety days ago.

Stocks with improving earnings metrics are worthy of your extra attention. In fact, “E = Earnings Are Increasing Quarter-Over-Quarter” is a core component of our CHEAT SHEET investing framework for this very reason. Don’t waste another minute — click here and get our CHEAT SHEET stock picks now.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

Don’t Miss These Additional Hot Stories:

Here’s The Top 10 Companies DOMINATING Web Traffic This Summer>>

SILVER: A Metal of Sunken Treasure and Champions>>

Is Cisco Systems Stock a BUY or SELL?

More from The Cheat Sheet