PartnerRe Earnings: Here’s Why the Stock is Up Now

PartnerRe Ltd. (NYSE:PRE) 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. Shares are up 0.52%.

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PartnerRe Ltd. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 22.83% to $3.39 in the quarter versus EPS of $2.76 in the year-earlier quarter.

Revenue: Rose 22.8% to $1.64 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: PartnerRe Ltd. reported adjusted EPS income of $3.39 per share. By that measure, the company beat the mean analyst estimate of $2.36. It beat the average revenue estimate of $1.54 billion.

Quoting Management: PartnerRe President & Chief Executive Officer Costas Miranthis said, “We began 2013 with a very good first quarter result, driven by strong underwriting performance, generating a Non-life combined ratio of 81.7%, and growth in our underlying portfolio. This, combined with modest gains in our investment portfolio resulted in book value growth of more than 2% for the quarter.”

Key Stats (on next page)…

Revenue increased 24.63% from $1.31 billion in the previous quarter. EPS increased 118.71% from $1.55 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 $1.85 to a profit $2.01. For the current year, the average estimate has moved up from a profit of $8.14 to a profit of $8.56 over the last ninety days.

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

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