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Here's What Key Metrics Tell Us About RenaissanceRe (RNR) Q3 Earnings
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RenaissanceRe (RNR - Free Report) reported $3.01 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 45.7%. EPS of $10.23 for the same period compares to $8.33 a year ago.
The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $2.9 billion. With the consensus EPS estimate being $7.89, the EPS surprise was +29.66%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how RenaissanceRe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Claims and Claim Expense Ratio: 53.2% compared to the 61.1% average estimate based on four analysts.
Underwriting Expense Ratio: 31.6% versus 30.1% estimated by four analysts on average.
Combined Ratio: 84.8% compared to the 91.2% average estimate based on four analysts.
Net Claims and Claim Expense Ratio - calendar year - Casualty and Specialty Segment: 65.7% versus the three-analyst average estimate of 65.1%.
Underwriting Expense Ratio - Casualty and Specialty Segment: 34.4% compared to the 32.1% average estimate based on three analysts.
Combined Ratio - Casualty and Specialty Segment: 100.1% compared to the 97.2% average estimate based on three analysts.
Revenues- Net premiums earned: $2.58 billion versus the four-analyst average estimate of $2.48 billion. The reported number represents a year-over-year change of +47.1%.
Revenues- Equity in earnings (losses) of other ventures: $5.72 million versus $7.32 million estimated by four analysts on average.
Revenues- Net investment income: $423.86 million versus $416.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +28.8% change.
Net premiums earned- Property: $994.78 million versus the three-analyst average estimate of $938.74 million. The reported number represents a year-over-year change of +30.8%.
Net premiums earned- Casualty and Specialty: $1.59 billion versus the three-analyst average estimate of $1.53 billion. The reported number represents a year-over-year change of +59.5%.
Revenues- Other income (loss): $0.68 million versus the two-analyst average estimate of $2 million.
Shares of RenaissanceRe have returned +3% over the past month versus the Zacks S&P 500 composite's +0.7% 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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Here's What Key Metrics Tell Us About RenaissanceRe (RNR) Q3 Earnings
RenaissanceRe (RNR - Free Report) reported $3.01 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 45.7%. EPS of $10.23 for the same period compares to $8.33 a year ago.
The reported revenue represents a surprise of +3.68% over the Zacks Consensus Estimate of $2.9 billion. With the consensus EPS estimate being $7.89, the EPS surprise was +29.66%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how RenaissanceRe performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Claims and Claim Expense Ratio: 53.2% compared to the 61.1% average estimate based on four analysts.
- Underwriting Expense Ratio: 31.6% versus 30.1% estimated by four analysts on average.
- Combined Ratio: 84.8% compared to the 91.2% average estimate based on four analysts.
- Net Claims and Claim Expense Ratio - calendar year - Casualty and Specialty Segment: 65.7% versus the three-analyst average estimate of 65.1%.
- Underwriting Expense Ratio - Casualty and Specialty Segment: 34.4% compared to the 32.1% average estimate based on three analysts.
- Combined Ratio - Casualty and Specialty Segment: 100.1% compared to the 97.2% average estimate based on three analysts.
- Revenues- Net premiums earned: $2.58 billion versus the four-analyst average estimate of $2.48 billion. The reported number represents a year-over-year change of +47.1%.
- Revenues- Equity in earnings (losses) of other ventures: $5.72 million versus $7.32 million estimated by four analysts on average.
- Revenues- Net investment income: $423.86 million versus $416.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +28.8% change.
- Net premiums earned- Property: $994.78 million versus the three-analyst average estimate of $938.74 million. The reported number represents a year-over-year change of +30.8%.
- Net premiums earned- Casualty and Specialty: $1.59 billion versus the three-analyst average estimate of $1.53 billion. The reported number represents a year-over-year change of +59.5%.
- Revenues- Other income (loss): $0.68 million versus the two-analyst average estimate of $2 million.
View all Key Company Metrics for RenaissanceRe here>>>Shares of RenaissanceRe have returned +3% over the past month versus the Zacks S&P 500 composite's +0.7% 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.