W.R. Berkley Corporation (NYSE:WRB) 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.
W.R. Berkley Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 13.7% to $0.83 in the quarter versus EPS of $0.73 in the year-earlier quarter.
Revenue: Rose 9.29% to $1.51 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: W.R. Berkley Corporation reported adjusted EPS income of $0.83 per share. By that measure, the company beat the mean analyst estimate of $0.74. It beat the average revenue estimate of $1.45 billion.
Quoting Management: William R. Berkley, chairman and chief executive officer, said: “We had a good quarter, setting the foundation for an excellent year. Our business is showing continued signs of improvement, and we are well positioned to take advantage of the positive rate environment.”
Key Stats (on next page)…
Revenue decreased 6.33% from $1.61 billion in the previous quarter. EPS increased 29.69% from $0.64 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 $0.66 to a profit $0.67. For the current year, the average estimate has moved up from a profit of $2.84 to a profit of $2.92 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)