Infinity Property and Casualty Corp. (NASDAQ:IPCC) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Infinity Property and Casualty Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 47.22% to $0.53 in the quarter versus EPS of $0.36 in the year-earlier quarter.
Revenue: Rose 15.1% to $330.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Infinity Property and Casualty Corp. reported adjusted EPS income of $0.53 per share. By that measure, the company missed the mean analyst estimate of $0.57. It beat the average revenue estimate of $328.46 million.
Quoting Management: James Gober, CEO and Chairman of Infinity, commented, “We are pleased with the improvement in our underwriting results in the first quarter. However, our return on capital remains below our long-term goals so we will continue to take actions to improve our returns.”
Key Stats (on next page)…
Revenue decreased 3.42% from $342.51 million in the previous quarter. EPS increased to $0.53 in the quarter versus EPS of $-1.06 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.67 to a profit $0.66. For the current year, the average estimate has moved down from a profit of $2.78 to a profit of $2.75 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)