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Axis Capital (AXS) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Axis Capital (AXS - Free Report) reported $1.58 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 6.2%. EPS of $2.71 for the same period compares to $2.34 a year ago.
The reported revenue represents a surprise of +0.40% over the Zacks Consensus Estimate of $1.57 billion. With the consensus EPS estimate being $2.50, the EPS surprise was +8.40%.
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 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: 93.1% versus the three-analyst average estimate of 93.5%.
Net loss and loss expense ratio - Total: 60.9% versus the three-analyst average estimate of 61.3%.
Net loss and loss expense ratio - Insurance: 58.9% compared to the 57.8% average estimate based on two analysts.
General and Administrative Expense Ratio - Reinsurance: 3.6% compared to the 5.2% average estimate based on two analysts.
Acquisition Cost Ratio - Total: 20.1% versus 19.5% estimated by two analysts on average.
Acquisition Cost Ratio - Insurance: 19.9% versus the two-analyst average estimate of 17.9%.
Acquisition Cost Ratio - Reinsurance: 20.9% compared to the 23.6% average estimate based on two analysts.
Net investment income: $205.10 million versus the three-analyst average estimate of $179.21 million. The reported number represents a year-over-year change of +33%.
Net premiums earned: $1.37 billion versus the three-analyst average estimate of $1.38 billion. The reported number represents a year-over-year change of +3.3%.
Other insurance related income (loss): $6.84 million versus the two-analyst average estimate of $8.77 million. The reported number represents a year-over-year change of -33.9%.
Net premiums earned- Insurance Segment: $1.02 billion versus the two-analyst average estimate of $974.57 million. The reported number represents a year-over-year change of +15.6%.
Net premiums earned- Reinsurance Segment: $342.85 million versus $415.19 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -21.5% change.
Shares of Axis Capital have returned +0.6% over the past month versus the Zacks S&P 500 composite's +1.8% 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) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Axis Capital (AXS - Free Report) reported $1.58 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 6.2%. EPS of $2.71 for the same period compares to $2.34 a year ago.
The reported revenue represents a surprise of +0.40% over the Zacks Consensus Estimate of $1.57 billion. With the consensus EPS estimate being $2.50, the EPS surprise was +8.40%.
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 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: 93.1% versus the three-analyst average estimate of 93.5%.
- Net loss and loss expense ratio - Total: 60.9% versus the three-analyst average estimate of 61.3%.
- Net loss and loss expense ratio - Insurance: 58.9% compared to the 57.8% average estimate based on two analysts.
- General and Administrative Expense Ratio - Reinsurance: 3.6% compared to the 5.2% average estimate based on two analysts.
- Acquisition Cost Ratio - Total: 20.1% versus 19.5% estimated by two analysts on average.
- Acquisition Cost Ratio - Insurance: 19.9% versus the two-analyst average estimate of 17.9%.
- Acquisition Cost Ratio - Reinsurance: 20.9% compared to the 23.6% average estimate based on two analysts.
- Net investment income: $205.10 million versus the three-analyst average estimate of $179.21 million. The reported number represents a year-over-year change of +33%.
- Net premiums earned: $1.37 billion versus the three-analyst average estimate of $1.38 billion. The reported number represents a year-over-year change of +3.3%.
- Other insurance related income (loss): $6.84 million versus the two-analyst average estimate of $8.77 million. The reported number represents a year-over-year change of -33.9%.
- Net premiums earned- Insurance Segment: $1.02 billion versus the two-analyst average estimate of $974.57 million. The reported number represents a year-over-year change of +15.6%.
- Net premiums earned- Reinsurance Segment: $342.85 million versus $415.19 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -21.5% change.
View all Key Company Metrics for Axis Capital here>>>Shares of Axis Capital have returned +0.6% over the past month versus the Zacks S&P 500 composite's +1.8% 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.