The Navigators Group Inc. Earnings: Beats Expectations

The Navigators Group Inc. (NASDAQ:NAVG) reported its results for the fourth quarter. Navigators Group is an international insurance holding company focusing on specialty products within the overall property/casualty insurance market.

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The Navigators Group Earnings Cheat Sheet for the Fourth Quarter

Results: Net income for The Navigators Group Inc. fell to $10.1 million (70 cents per share) vs. $17.3 million ($1.07 per share) a year earlier. This is a decline of 41.8% from the year earlier quarter.

Revenue: Rose 2.7% to $211.3 million from the year earlier quarter.

Actual vs. Wall St. Expectations: The Navigators Group Inc. beat the mean estimate of 69 cents per share. It beat the average revenue estimate of $176.3 million.

Quoting Management: Stan Galanski, President and Chief Executive Officer, commented, “Our property casualty business had a solid fourth quarter, as the energy, casualty and treaty reinsurance units each produced profitable underwriting results and double digit premium growth. Following the major energy losses that impacted the industry in early 2011, rates and terms have improved and we have increased our capacity in response. We are achieving positive pricing in many product lines. The notable exception is Directors & Officers liability, which continued to generate underwriting losses as we re-position the portfolio for future profits.”

Key Stats:

Revenue rose last quarter after seeing a drop the quarter before. Revenue fell 0.6% to $191.6 million in the third quarter from the year earlier.

Looking Forward: The average estimate for the first quarter of the next fiscal year is steady at 69 cents a share. For the fiscal year, the average estimate has moved up from $1.54 a share to $1.55 over the last ninety days.

(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)

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To contact the reporter on this story: Derek Hoffman at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com