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ProAssurance (PRA) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
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For the quarter ended March 2024, ProAssurance (PRA - Free Report) reported revenue of $282 million, up 4.1% over the same period last year. EPS came in at $0.08, compared to -$0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $269.24 million, representing a surprise of +4.74%. The company delivered an EPS surprise of +100.00%, with the consensus EPS estimate being $0.04.
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 ProAssurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Combined Ratio: 111.6% versus 112.2% estimated by five analysts on average.
Net Loss Ratio: 79.7% compared to the 81.8% average estimate based on five analysts.
Underwriting Expense Ratio: 31.9% compared to the 30.4% average estimate based on five analysts.
Underwriting Expense Ratio - Segregated Portfolio Cell Reinsurance: 33.3% versus the three-analyst average estimate of 31.4%.
Net premiums earned: $244.15 million versus the five-analyst average estimate of $232.08 million. The reported number represents a year-over-year change of +1.8%.
Net investment income: $33.90 million versus the five-analyst average estimate of $34.46 million. The reported number represents a year-over-year change of +11.8%.
Equity in earnings (loss) of unconsolidated subsidiaries: $2.96 million versus $2 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -364.3% change.
Other income(loss): $3.96 million versus $2.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +402.5% change.
Net Premiums Earned- Specialty Property & Casualty: $188.89 million versus $182 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
Net Premiums Earned- Segregated Portfolio Cell Reinsurance: $14.17 million versus the three-analyst average estimate of $15.10 million. The reported number represents a year-over-year change of -7.4%.
Net Premiums Earned- Workers Compensation: $41.09 million versus $40.48 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.
Net investment income- Segregated Portfolio Cell Reinsurance: $0.69 million versus $0.67 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +65% change.
Shares of ProAssurance have returned +11.5% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.
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ProAssurance (PRA) Q1 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended March 2024, ProAssurance (PRA - Free Report) reported revenue of $282 million, up 4.1% over the same period last year. EPS came in at $0.08, compared to -$0.15 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $269.24 million, representing a surprise of +4.74%. The company delivered an EPS surprise of +100.00%, with the consensus EPS estimate being $0.04.
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 ProAssurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Combined Ratio: 111.6% versus 112.2% estimated by five analysts on average.
- Net Loss Ratio: 79.7% compared to the 81.8% average estimate based on five analysts.
- Underwriting Expense Ratio: 31.9% compared to the 30.4% average estimate based on five analysts.
- Underwriting Expense Ratio - Segregated Portfolio Cell Reinsurance: 33.3% versus the three-analyst average estimate of 31.4%.
- Net premiums earned: $244.15 million versus the five-analyst average estimate of $232.08 million. The reported number represents a year-over-year change of +1.8%.
- Net investment income: $33.90 million versus the five-analyst average estimate of $34.46 million. The reported number represents a year-over-year change of +11.8%.
- Equity in earnings (loss) of unconsolidated subsidiaries: $2.96 million versus $2 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -364.3% change.
- Other income(loss): $3.96 million versus $2.70 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +402.5% change.
- Net Premiums Earned- Specialty Property & Casualty: $188.89 million versus $182 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +5.3% change.
- Net Premiums Earned- Segregated Portfolio Cell Reinsurance: $14.17 million versus the three-analyst average estimate of $15.10 million. The reported number represents a year-over-year change of -7.4%.
- Net Premiums Earned- Workers Compensation: $41.09 million versus $40.48 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +0.7% change.
- Net investment income- Segregated Portfolio Cell Reinsurance: $0.69 million versus $0.67 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +65% change.
View all Key Company Metrics for ProAssurance here>>>Shares of ProAssurance have returned +11.5% over the past month versus the Zacks S&P 500 composite's -1.6% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.