RLI Corp. (RLI - Free Report) reported $351.07 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 16.5%. EPS of $1.16 for the same period compares to $1.49 a year ago.
The reported revenue represents a surprise of -2.03% over the Zacks Consensus Estimate of $358.35 million. With the consensus EPS estimate being $1.20, the EPS surprise was -3.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 RLI Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Expense Ratio- Total: 39.4% compared to the 39.54% average estimate based on three analysts.
- Loss Ratio- Total: 47.8% versus the three-analyst average estimate of 45.28%.
- Combined Ratio (Underwriting income ratio) - Total: 87.2% versus the three-analyst average estimate of 84.83%.
- Combined Ratio - Property: 74.6% compared to the 73.74% average estimate based on two analysts.
- Combined Ratio - Casualty: 96.3% versus the two-analyst average estimate of 88.59%.
- Combined Ratio - Surety: 75% compared to the 82.97% average estimate based on two analysts.
- Net premiums earned: $322.28 million versus the three-analyst average estimate of $330.92 million. The reported number represents a year-over-year change of +14%.
- Net investment income: $28.79 million versus $27.64 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +55.9% change.
- Net premiums earned- Property segment: $101.84 million versus the two-analyst average estimate of $101.84 million.
- Net premiums earned- Surety segment: $33.39 million versus $34.96 million estimated by two analysts on average.
- Net premiums earned- Casualty segment: $187.05 million versus $193.26 million estimated by two analysts on average.
View all Key Company Metrics for RLI Corp. here>>>Shares of RLI Corp. have returned +5.7% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
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RLI Corp. (RLI - Free Report) reported $351.07 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 16.5%. EPS of $1.16 for the same period compares to $1.49 a year ago.
The reported revenue represents a surprise of -2.03% over the Zacks Consensus Estimate of $358.35 million. With the consensus EPS estimate being $1.20, the EPS surprise was -3.33%.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
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 RLI Corp. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Expense Ratio- Total: 39.4% compared to the 39.54% average estimate based on three analysts.
- Loss Ratio- Total: 47.8% versus the three-analyst average estimate of 45.28%.
- Combined Ratio (Underwriting income ratio) - Total: 87.2% versus the three-analyst average estimate of 84.83%.
- Combined Ratio - Property: 74.6% compared to the 73.74% average estimate based on two analysts.
- Combined Ratio - Casualty: 96.3% versus the two-analyst average estimate of 88.59%.
- Combined Ratio - Surety: 75% compared to the 82.97% average estimate based on two analysts.
- Net premiums earned: $322.28 million versus the three-analyst average estimate of $330.92 million. The reported number represents a year-over-year change of +14%.
- Net investment income: $28.79 million versus $27.64 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +55.9% change.
- Net premiums earned- Property segment: $101.84 million versus the two-analyst average estimate of $101.84 million.
- Net premiums earned- Surety segment: $33.39 million versus $34.96 million estimated by two analysts on average.
- Net premiums earned- Casualty segment: $187.05 million versus $193.26 million estimated by two analysts on average.
View all Key Company Metrics for RLI Corp. here>>>Shares of RLI Corp. have returned +5.7% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #1 (Strong Buy), indicating that it could outperform the broader market in the near term.
4 Oil Stocks with Massive Upsides
Global demand for oil is through the roof... and oil producers are struggling to keep up. So even though oil prices are well off their recent highs, you can expect big profits from the companies that supply the world with "black gold."
Zacks Investment Research has just released an urgent special report to help you bank on this trend.
In Oil Market on Fire, you'll discover 4 unexpected oil and gas stocks positioned for big gains in the coming weeks and months. You don't want to miss these recommendations.
Download your free report now to see them.
Get the latest research report on RLI - FREE