Axis Capital Holdings Limited (NASDAQ:AXS) reported its results for the first quarter. Axis Capital Holdings Ltd through its subsidiaries, provides a range of insurance and reinsurance products to insureds and reinsureds worldwide operations with main locations in Bermuda, the United States and Europe.
Axis Capital Holdings Earnings Cheat Sheet for the First Quarter
Results: Swung to a loss of $374.5 million ($3.39/diluted share) in the quarter. The Axis Capital Holdings Limited had a net income of $121 million or 79 cents per share in the year earlier quarter.
Revenue: Rose to $929.8 million YoY.
Actual vs. Wall St. Expectations: AXS fell short of the mean analyst estimate of a loss of $3.35/share. Estimates ranged from a loss of $2.80 per share to a loss of $3.80 per share.
AXS’ loss in the latest quarter follows profits in the previous three quarters. The company reported a profit of $273.6 million in the fourth quarter of the last fiscal year, a profit of $248.1 million in the third quarter of the last fiscal year and $214.1 million in the second of the last fiscal year.
Competitors to Watch: Aspen Insurance Hldgs. Ltd. (NYSE:AHL), Validus Holdings, Ltd. (NYSE:VR), RenaissanceRe Hldgs. Ltd. (NYSE:RNR), PartnerRe Ltd. (NYSE:PRE), Flagstone Reinsurance Hldgs. SA (NYSE:FSR), Platinum Underwriters Hldgs., Ltd. (NYSE:PTP), Montpelier Re Hldgs. Ltd. (NYSE:MRH), American International Group (NYSE:AIG), Everest Re Group, Ltd. (NYSE:RE), and Maiden Holdings, Ltd. (NASDAQ:MHLD).
Today’s Performance: Shares of AXS are unchanged in after hours trading.