ProAssurance Earnings: Everything You Must Know Now

ProAssurance Corporation (NYSE:PRA) 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.

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ProAssurance Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 24.36% to $0.97 in the quarter versus EPS of $0.78 in the year-earlier quarter.

Revenue: Rose 7.97% to $194.97 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: ProAssurance Corporation reported adjusted EPS income of $0.97 per share. By that measure, the company beat the mean analyst estimate of $0.76. It beat the average revenue estimate of $176.89 million.

Quoting Management: “We continue to see the benefits of a disciplined application of a long-term strategy that enhances security for our insureds while creating value for our investors,” said W. Stancil Starnes, the Chairman and Chief Executive Officer of ProAssurance. He added, “We are also seeing the benefits of a successful M&A strategy that added $12 million of gross premium to our top line. The purchase of Independent Nevada Doctors Insurance Exchange (NYSE:IND) solidified our position as the top medical professional liability writer in Nevada. Our acquisition of Medmarc added significant volume to our lawyers’ professional liability line and, most importantly, broadened our medically-related coverage to include products liability for medical technology and life sciences. We are especially encouraged by Medmarc’s ability to attract new business and retain existing accounts by leveraging its expertise and the financial strength of ProAssurance.”

Key Stats (on next page)…

Revenue decreased 0.23% from $195.42 million in the previous quarter. EPS decreased 37.82% from $1.56 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 $0.78 to a profit $0.81. For the current year, the average estimate has moved down from a profit of $3.79 to a profit of $3.74 over the last ninety days.

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