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Assurant (AIZ) Reports Q1 Earnings: What Key Metrics Have to Say
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Assurant (AIZ - Free Report) reported $2.89 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.9%. EPS of $4.78 for the same period compares to $2.75 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.82 billion, representing a surprise of +2.62%. The company delivered an EPS surprise of +23.51%, with the consensus EPS estimate being $3.87.
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 Assurant performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net investment income: $126.70 million versus $134.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.4% change.
Fees and other income: $385.70 million versus $333.63 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +36.4% change.
Net earned premiums, fees and other income: $2.76 billion versus $2.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.
Total revenues- Global Housing: $600.70 million versus the three-analyst average estimate of $577.54 million. The reported number represents a year-over-year change of +14.1%.
Total revenues- Global Lifestyle: $2.28 billion versus the three-analyst average estimate of $2.22 billion. The reported number represents a year-over-year change of +7.6%.
Total revenues- Corporate & Other: $5.80 million versus the three-analyst average estimate of $6.65 million. The reported number represents a year-over-year change of +26.1%.
Net earned premiums- Global Housing: $540.60 million compared to the $515.77 million average estimate based on two analysts. The reported number represents a change of +13.8% year over year.
Fees and other income- Global Housing: $31.60 million versus the two-analyst average estimate of $30.97 million. The reported number represents a year-over-year change of +4.3%.
Net investment income- Global Housing: $28.50 million compared to the $32.30 million average estimate based on two analysts. The reported number represents a change of +34.4% year over year.
Global Housing- Net earned premiums, fees and other income: $572.20 million versus $546.74 million estimated by two analysts on average.
Fees and other income- Global Lifestyle: $353.50 million versus the two-analyst average estimate of $316.01 million. The reported number represents a year-over-year change of +40.2%.
Global Lifestyle- Net earned premiums: $1.83 billion versus the two-analyst average estimate of $1.81 billion. The reported number represents a year-over-year change of -10.1%.
Shares of Assurant have returned -0.4% over the past month versus the Zacks S&P 500 composite's -0.4% 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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Assurant (AIZ) Reports Q1 Earnings: What Key Metrics Have to Say
Assurant (AIZ - Free Report) reported $2.89 billion in revenue for the quarter ended March 2024, representing a year-over-year increase of 8.9%. EPS of $4.78 for the same period compares to $2.75 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $2.82 billion, representing a surprise of +2.62%. The company delivered an EPS surprise of +23.51%, with the consensus EPS estimate being $3.87.
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 Assurant performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net investment income: $126.70 million versus $134.57 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20.4% change.
- Fees and other income: $385.70 million versus $333.63 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +36.4% change.
- Net earned premiums, fees and other income: $2.76 billion versus $2.35 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +8.4% change.
- Total revenues- Global Housing: $600.70 million versus the three-analyst average estimate of $577.54 million. The reported number represents a year-over-year change of +14.1%.
- Total revenues- Global Lifestyle: $2.28 billion versus the three-analyst average estimate of $2.22 billion. The reported number represents a year-over-year change of +7.6%.
- Total revenues- Corporate & Other: $5.80 million versus the three-analyst average estimate of $6.65 million. The reported number represents a year-over-year change of +26.1%.
- Net earned premiums- Global Housing: $540.60 million compared to the $515.77 million average estimate based on two analysts. The reported number represents a change of +13.8% year over year.
- Fees and other income- Global Housing: $31.60 million versus the two-analyst average estimate of $30.97 million. The reported number represents a year-over-year change of +4.3%.
- Net investment income- Global Housing: $28.50 million compared to the $32.30 million average estimate based on two analysts. The reported number represents a change of +34.4% year over year.
- Global Housing- Net earned premiums, fees and other income: $572.20 million versus $546.74 million estimated by two analysts on average.
- Fees and other income- Global Lifestyle: $353.50 million versus the two-analyst average estimate of $316.01 million. The reported number represents a year-over-year change of +40.2%.
- Global Lifestyle- Net earned premiums: $1.83 billion versus the two-analyst average estimate of $1.81 billion. The reported number represents a year-over-year change of -10.1%.
View all Key Company Metrics for Assurant here>>>Shares of Assurant have returned -0.4% over the past month versus the Zacks S&P 500 composite's -0.4% 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.