Selective Insurance Group Inc. (NASDAQ:SIGI) 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.
Selective Insurance Group Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4100% to $0.42 in the quarter versus EPS of $0.01 in the year-earlier quarter.
Revenue: Rose 9.32% to $468.9 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Selective Insurance Group Inc. reported adjusted EPS income of $0.42 per share. By that measure, the company beat the mean analyst estimate of $0.33. It beat the average revenue estimate of $456.82 million.
Quoting Management: “We had a very strong quarter due to improvements in our underwriting operations as our granular pricing approach and sophisticated underwriting tools continue to be a key to success,” said Chairman, President and CEO Gregory E. Murphy. “Overall net premiums written grew 9% due to standard lines renewal pure price increases of 7.4% and new business that was up 17% to $84 million. Standard lines retention remained steady at 84% — an indication of market stability.”
Key Stats (on next page)…
EPS increased 16.67% from $0.36 in the previous quarter.
Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.33 to a profit $0.31. For the current year, the average estimate has moved down from a profit of $1.50 to a profit of $1.44 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)