Assurant Inc. Earnings: Swing to a Profit, Topping Analysts’ Estimates

S&P 500 (NYSE:SPY) component Assurant Inc. (NYSE:AIZ) reported its results for the fourth quarter. Assurant provides specialized insurance products and related services in North America and some international markets.

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Assurant Earnings Cheat Sheet for the Fourth Quarter

Results: Reported a profit of $162.3 million ($1.73 per diluted share) in the quarter. Assurant Inc. had a net loss of $184.4 million or a loss $1.74 per share in the year earlier quarter.

Revenue: Rose 0.3% to $2.11 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: Assurant Inc. beat the mean analyst estimate of $1.37 per share. Analysts were expecting revenue of $2.07 billion.

Quoting Management: “During 2011, our specialty strategy delivered on our long-term commitments that continue to build value for our shareholders,” said Robert B. Pollock, president and CEO of Assurant. “We broadened our product portfolio and improved our operations with an emphasis on consumers’ needs. We will build further on these efforts in 2012.”

Key Stats:

A year-over-year revenue increase last quarter snaps a streak of four consecutive quarters of revenue declines. The worst quarter in that span was the first quarter, which saw a 6.1% decrease.

The company has now beaten estimates the last two quarters. In the third quarter, it topped expectations with net income of 79 cents versus a mean estimate of net income of 77 cents per share.

Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the first quarter of the next fiscal year is $1.40 per share, down from $1.42 ninety days ago. For the fiscal year, the average estimate has moved up from $4.25 a share to $4.28 over the last ninety days.

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

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com