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Axis Capital Holdings (AXS)
NYSE:AXS
Holding AXS?
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Earnings Data
Report Date
Jan 29, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$2.57Last Year’s EPS
-$1.25Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 11.38%
|Next Earnings Date:Jan 29, 2025
Earnings Call Sentiment|Positive
AXIS demonstrated strong financial performance in Q3 2024, with record premiums and investment income, a robust insurance segment, and improved expense management. However, challenges in the reinsurance segment, competitive pressures in the property market, and strategic reshaping in the cyber insurance business were notable concerns.Company Guidance
In the third quarter of 2024, AXIS Capital reported strong financial performance, showcasing a focused strategy on profitability and disciplined underwriting. The company achieved an annualized return on equity (ROE) of 17.3% and a 26% increase in book value per share, reaching $64.65. Operating earnings per share rose by 16% from the prior year, amounting to $2.71. AXIS maintained a combined ratio of 93.1% for the quarter, supported by a current accident year loss ratio of 61.5%. The firm generated $1.9 billion in premiums, including $585 million in new business, while achieving a notable reduction in its general and administrative (G&A) expense ratio to 12.1%. The company's net investment income reached a record $205 million. In the insurance segment, the combined ratio was 90.4%, while the reinsurance segment posted a combined ratio of 91.4%. AXIS displayed resilience in its portfolio, projecting $30 million in losses from Hurricane Helene and expecting similar figures for Hurricane Milton, against an industry backdrop of $40 billion in expected losses. The company remains confident in its strategic initiatives, focusing on premium adequacy and leveraging technology and talent to sustain profitable growth.Strong Financial Performance
AXIS reported a net income available to common shareholders of $173 million or $2.04 per diluted common share, resulting in an annualized ROE of 13%. Operating income was $230 million, or $2.71 per diluted common share, resulting in an annualized operating ROE of 17.3%.
Record Gross Premiums
Company-wide gross premiums written grew 1.6% to $1.9 billion, marking the highest production for a third quarter.
Improved Expense Ratio
The consolidated G&A expense ratio was 12.1%, down from 13.5% a year ago, with a commitment to reduce it below 11% by 2026.
Robust Investment Income
Net investment income was a record $205 million, up 33% from the prior year.
Insurance Segment Growth
The insurance segment reported a strong performance with gross premiums written up 4.7% compared to the prior year, achieving a 90.4% combined ratio.
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AXS Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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AXS Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $80.83 | $78.26 | -3.18% |
| Jul 30, 2024 | $74.06 | $75.33 | +1.71% |
| May 01, 2024 | $61.22 | $64.42 | +5.23% |
| Jan 31, 2024 | $58.41 | $56.09 | -3.97% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Axis Capital Holdings (AXS) report earnings?
Axis Capital Holdings (AXS) is schdueled to report earning on Jan 29, 2025, TBA Not Confirmed.
What is Axis Capital Holdings (AXS) earnings time?
Axis Capital Holdings (AXS) earnings time is at Jan 29, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is AXS EPS forecast?
AXS EPS forecast for the fiscal quarter 2024 (Q4) is $2.57.
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