Reinsurance Group of America Incorporated Earnings: Consecutive Profit Quarter Streak Stays Intact
Reinsurance Group of America Incorporated (NYSE:RGA) reported its results for the first quarter. Reinsurance Group of America is an insurance holding company engaged in traditional individual and group life, asset-intensive, critical illness and financial reinsurance.
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Reinsurance Group of America Incorporated Earnings Cheat Sheet for the First Quarter
Results: Net income for Reinsurance Group of America Incorporated fell to $123.3 million ($1.67 per share) vs. $160.8 million ($2.02 per share) a year earlier. This is a decline of 23.3% from the year-earlier quarter.
Revenue: Revenue was $2.29 billion last quarter.
Actual vs. Wall St. Expectations: Reinsurance Group of America Incorporated beat the mean analyst estimate of $1.52 per share. It beat the average revenue estimate of $2.2 billion.
The company’s net income has fallen in each of the last two quarters. In the fourth quarter of the last fiscal year, net income fell 19.4% from the year-earlier quarter.
The company has now beaten analyst estimates for three quarters in a row. It beat the mark by 7 cents in the fourth quarter of the last fiscal year and by 17 cents in the third quarter of the last fiscal year.
Looking Forward: The outlook for the company’s results in the upcoming quarter is unfavorable. The average estimate for the second quarter is $1.73 per share, down from $1.75 ninety days ago. Over the past three months, the average estimate for the fiscal year has climbed from $7 per to share to $7.04.
(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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