RenaissanceRe Holdings Ltd. Earnings:Everything You Must Know Now

RenaissanceRe Holdings Ltd. (NYSE:RNR) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.

RenaissanceRe Holdings Ltd. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 1.4% to $2.17 in the quarter versus EPS of $2.14 in the year-earlier quarter.

Revenue: Decreased 18.52% to $252.99 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: RenaissanceRe Holdings Ltd. reported adjusted EPS income of $2.17 per share. By that measure, the company missed the mean analyst estimate of $2.32. It missed the average revenue estimate of $305.53 million.

Quoting Management: Kevin J. O’Donnell, CEO, commented: “In the second quarter of 2013, we generated an annualized operating ROE of 12.2% and increased our tangible book value per share plus dividends by 0.8%, despite several notable catastrophe losses and a challenging investment environment.”

Key Stats (on next page)…

Revenue decreased 26.31% from $343.32 million in the previous quarter. EPS decreased 44.64% from $3.92 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 $1.51 to a profit $1.52. For the current year, the average estimate has moved up from a profit of $9.54 to a profit of $10.01 over the last ninety days.

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