Symetra Financial Corporation (NYSE:SYA) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 2.69%.
Symetra Financial Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.71% to $0.39 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 0.94% to $513.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Symetra Financial Corporation reported adjusted EPS income of $0.39 per share. By that measure, the company beat the mean analyst estimate of $0.33. It missed the average revenue estimate of $515.14 million.
Quoting Management: “Our Deferred Annuities business turned in a strong second quarter, and outstanding fixed indexed annuity sales drove account value growth. We saw flat year-over-year operating income in Benefits, improved results in Individual Life, and an earnings decline in Income Annuities. All in all, Symetra posted a solid second quarter performance,” said Tom Marra, Symetra president and CEO.
Key Stats (on next page)…
Revenue decreased 7.88% from $557.1 million in the previous quarter. EPS increased 5.41% from $0.37 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 $0.35 to a profit $0.37. For the current year, the average estimate has moved up from a profit of $1.38 to a profit of $1.45 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)