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Everest Group (EG)
NYSE:EG
Holding EG?
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Earnings Data
Report Date
Feb 03, 2025After Close Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$12.78Last Year’s EPS
$25.18Same Quarter Last Year
Moderate Buy
Based on 11 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: -6.15%
|Next Earnings Date:Feb 03, 2025
Earnings Call Sentiment|Neutral
The earnings call conveyed a strong financial performance with significant growth in investment income and successful reinsurance operations. However, challenges were noted in casualty lines and catastrophe impacts, resulting in a cautious approach moving forward.Company Guidance
During the Everest Group Limited's third-quarter 2024 earnings call, the company provided several key metrics indicating strong performance and strategic direction. The annualized total shareholder return reached 19.4%, with an annualized operating return on equity of 18.7% year-to-date. The company's net investment income for the third quarter was nearly $500 million, contributing to an operating earnings per share of $14.62. The group reported a 1% growth in gross written premiums in constant dollars, excluding reinstatement premiums, totaling $4.4 billion. The combined ratio stood at 93.1%, with CAT losses contributing approximately 8 points due to multiple global disaster events. Everest's insurance segment reported an average rate increase of 11% across its North American portfolio, excluding specific lines. Despite challenges, the company remains optimistic about achieving a reported combined ratio of 92% in the second half of 2025, driven by strategic portfolio management and market conditions.Strong Financial Performance
Everest delivered an annualized total shareholder return of 19.4% and an annualized operating return on equity of 18.7% year-to-date.
Investment Income Growth
The investment portfolio generated nearly $500 million of net investment income in the third quarter.
Reinsurance Segment Success
The reinsurance segment showed excellent results with growth driven by property catastrophe excess of loss and property pro rata, growing in the mid to high teens.
Insurance Segment Progress
Progress in the insurance segment includes improving the portfolio mix and strong growth in retail property and specialty lines, each increasing in the double digits internationally.
Investment Portfolio Outperformance
Net investment income increased by $90 million compared to the prior year, driven by higher assets under management and higher new money yields.
Share Repurchase Program
Repurchased 272,000 shares in the quarter amounting to $100 million, with year-to-date repurchases totaling $200 million.
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EG 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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EG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $380.00 | $355.61 | -6.42% |
| Jul 31, 2024 | $390.82 | $366.42 | -6.24% |
| Apr 29, 2024 | $365.29 | $362.62 | -0.73% |
| Feb 07, 2024 | $378.27 | $349.33 | -7.65% |
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 Everest Group (EG) report earnings?
Everest Group (EG) is schdueled to report earning on Feb 03, 2025, After Close Not Confirmed.
What is Everest Group (EG) earnings time?
Everest Group (EG) earnings time is at Feb 03, 2025, After Close 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 EG EPS forecast?
EG EPS forecast for the fiscal quarter 2024 (Q4) is $12.78.
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