Assurant Earnings: Here’s Why Investors Like These Results
Assurant Inc. (NYSE:AIZ) 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 up 0.34%.
Assurant Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 15.47% to $1.53 in the quarter versus EPS of $1.81 in the year-earlier quarter.
Revenue: Rose 5.09% to $2.24 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Assurant Inc. reported adjusted EPS income of $1.53 per share. By that measure, the company beat the mean analyst estimate of $1.45. It beat the average revenue estimate of $2.11 billion.
Quoting Management: “We continue to make progress in our targeted specialty areas as we adapt to meet the evolving needs of consumers and clients,” said Robert B. Pollock, president and CEO of Assurant, Inc. “While earnings were lower in the second quarter, growth in premiums and fees strengthen the foundation for increased profits across our businesses longer term.”
Key Stats (on next page)…
Revenue increased 4.05% from $2.15 billion in the previous quarter. EPS increased 13.33% from $1.35 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $1.22 to a profit $1.25. For the current year, the average estimate has moved down from a profit of $5.66 to a profit of $5.52 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)