Everest Re Group Ltd. Earnings: Everything You Must Know Now

Everest Re Group Ltd. (NYSE:RE) 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.

Everest Re Group Ltd. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 20% to $5.10 in the quarter versus EPS of $4.25 in the year-earlier quarter.

Revenue: Decreased 2.54% to $1.15 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Everest Re Group Ltd. reported adjusted EPS income of $5.10 per share. By that measure, the company beat the mean analyst estimate of $4.25. It beat the average revenue estimate of $1.08 billion.

Quoting Management: Chairman and Chief Executive Officer, Joseph V. Taranto said, “Through six months, our annualized net income return on shareholders’ equity is 21%. We returned $500 million to shareholders through share repurchases and dividends and grew book value per share, adjusted for dividends, by 5% despite falling bond prices and catastrophes. We believe we are well positioned to continue to increase shareholder value.”

Key Stats (on next page)…

Revenue decreased 15.77% from $1.37 billion in the previous quarter. EPS decreased 13.27% from $5.88 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 $2.59 to a profit $2.60. For the current year, the average estimate has moved up from a profit of $15.99 to a profit of $16.77 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)