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W.R. Berkley (WRB) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended June 2023, W.R. Berkley (WRB - Free Report) reported revenue of $2.94 billion, up 9.4% over the same period last year. EPS came in at $1.14, compared to $1.12 in the year-ago quarter.
The reported revenue represents a surprise of -1.24% over the Zacks Consensus Estimate of $2.97 billion. With the consensus EPS estimate being $1.07, the EPS surprise was +6.54%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how W.R. Berkley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Combined Ratio - Total: 91.1% compared to the 90.57% average estimate based on four analysts.
Expense Ratio: 28% versus the four-analyst average estimate of 28.63%.
Loss Ratio - Insurance Segment (Underwriting Ratios): 63.1% compared to the 61.72% average estimate based on four analysts.
Net investment income: $245.15 million compared to the $233.68 million average estimate based on four analysts.
Net premiums earned: $2.55 billion versus $2.53 billion estimated by four analysts on average.
Revenues from non-insurance businesses: $113.91 million compared to the $138.87 million average estimate based on four analysts.
Insurance service fees: $25.47 million versus the three-analyst average estimate of $29.59 million.
Net investment gains (losses)- Net realized gains on investment sales: $68.65 million versus the three-analyst average estimate of -$34.60 million.
Net premiums earned- Insurance: $2.25 billion compared to the $2.18 billion average estimate based on two analysts.
Net premiums earned- Reinsurance: $306.33 million versus $311.05 million estimated by two analysts on average.
Shares of W.R. Berkley have returned +3% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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W.R. Berkley (WRB) Q2 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended June 2023, W.R. Berkley (WRB - Free Report) reported revenue of $2.94 billion, up 9.4% over the same period last year. EPS came in at $1.14, compared to $1.12 in the year-ago quarter.
The reported revenue represents a surprise of -1.24% over the Zacks Consensus Estimate of $2.97 billion. With the consensus EPS estimate being $1.07, the EPS surprise was +6.54%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how W.R. Berkley performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Combined Ratio - Total: 91.1% compared to the 90.57% average estimate based on four analysts.
- Expense Ratio: 28% versus the four-analyst average estimate of 28.63%.
- Loss Ratio - Insurance Segment (Underwriting Ratios): 63.1% compared to the 61.72% average estimate based on four analysts.
- Net investment income: $245.15 million compared to the $233.68 million average estimate based on four analysts.
- Net premiums earned: $2.55 billion versus $2.53 billion estimated by four analysts on average.
- Revenues from non-insurance businesses: $113.91 million compared to the $138.87 million average estimate based on four analysts.
- Insurance service fees: $25.47 million versus the three-analyst average estimate of $29.59 million.
- Net investment gains (losses)- Net realized gains on investment sales: $68.65 million versus the three-analyst average estimate of -$34.60 million.
- Net premiums earned- Insurance: $2.25 billion compared to the $2.18 billion average estimate based on two analysts.
- Net premiums earned- Reinsurance: $306.33 million versus $311.05 million estimated by two analysts on average.
View all Key Company Metrics for W.R. Berkley here>>>Shares of W.R. Berkley have returned +3% over the past month versus the Zacks S&P 500 composite's +3.6% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.