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Axis Capital (AXS) Reports Q3 Earnings: What Key Metrics Have to Say
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For the quarter ended September 2023, Axis Capital (AXS - Free Report) reported revenue of $1.49 billion, up 37.5% over the same period last year. EPS came in at $2.34, compared to $0.03 in the year-ago quarter.
The reported revenue represents a surprise of +3.31% over the Zacks Consensus Estimate of $1.44 billion. With the consensus EPS estimate being $1.86, the EPS surprise was +25.81%.
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 Axis Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Combined Ratio - Total: 92.7% compared to the 94.3% average estimate based on two analysts.
Net loss and loss expense ratio - Total: 59.3% compared to the 62.6% average estimate based on two analysts.
Net premiums earned: $1.32 billion compared to the $1.30 billion average estimate based on two analysts. The reported number represents a change of +2.9% year over year.
Net investment income: $154.20 million versus $138.66 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +74.9% change.
Other insurance related income (loss): $10.34 million compared to the $2.99 million average estimate based on two analysts. The reported number represents a change of +847.3% year over year.
Shares of Axis Capital have returned +3.6% over the past month versus the Zacks S&P 500 composite's -1.1% 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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Axis Capital (AXS) Reports Q3 Earnings: What Key Metrics Have to Say
For the quarter ended September 2023, Axis Capital (AXS - Free Report) reported revenue of $1.49 billion, up 37.5% over the same period last year. EPS came in at $2.34, compared to $0.03 in the year-ago quarter.
The reported revenue represents a surprise of +3.31% over the Zacks Consensus Estimate of $1.44 billion. With the consensus EPS estimate being $1.86, the EPS surprise was +25.81%.
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 Axis Capital performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Combined Ratio - Total: 92.7% compared to the 94.3% average estimate based on two analysts.
- Net loss and loss expense ratio - Total: 59.3% compared to the 62.6% average estimate based on two analysts.
- Net premiums earned: $1.32 billion compared to the $1.30 billion average estimate based on two analysts. The reported number represents a change of +2.9% year over year.
- Net investment income: $154.20 million versus $138.66 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +74.9% change.
- Other insurance related income (loss): $10.34 million compared to the $2.99 million average estimate based on two analysts. The reported number represents a change of +847.3% year over year.
View all Key Company Metrics for Axis Capital here>>>Shares of Axis Capital have returned +3.6% over the past month versus the Zacks S&P 500 composite's -1.1% 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.