Navigators Group Inc. (NASDAQ:NAVG) delivered a profit and met 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.
Navigators Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 56.25% to $0.75 in the quarter versus EPS of $0.48 in the year-earlier quarter.
Revenue: Rose 12.38% to $221.37 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Navigators Group Inc. reported adjusted EPS income of $0.75 per share. By that measure, the company met the mean analyst estimate of $0.75. It beat the average revenue estimate of $209.84 million.
Quoting Management: Stan Galanski, President and Chief Executive Officer, commented, “We are pleased to report profitable underwriting results for the quarter, with improved profitability in our U.S. insurance business. We are experiencing positive rate movement across most of our product lines and are benefitting from the investments made in expanding our underwriting team over the past few years.”
Key Stats (on next page)…
Revenue decreased 9.51% from $244.63 million in the previous quarter. EPS increased 27.12% from $0.59 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 $0.77 to a profit $0.78. For the current year, the average estimate has moved up from a profit of $3.02 to a profit of $3.06 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)