Assurant (AIZ) Q2 Earnings Report Preview: What To Look For
Insurance services company Assurant (NYSE:AIZ) will be announcing earnings results this Tuesday after market hours. Here’s what investors should know.
Assurant beat analysts’ revenue expectations last quarter, reporting revenues of $3.42 billion, up 11.3% year on year. It was an exceptional quarter for the company, with an impressive beat of analysts’ net premiums earned estimates and a beat of analysts’ EPS estimates.
Is Assurant a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Assurant’s revenue to grow 8.8% year on year, in line with the 7.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Assurant has a history of exceeding Wall Street’s expectations.
Looking at Assurant’s peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. First American Financial delivered year-on-year revenue growth of 15%, beating analysts’ expectations by 3.4%, and Markel Group reported flat revenue, topping estimates by 1.1%. First American Financial traded down 2.2% following the results while Markel Group was also down 6.4%.
Read our full analysis of First American Financial’s results here and Markel Group’s results here.
Investors in the property & casualty insurance segment have had steady hands going into earnings, with share prices flat over the last month. Assurant is down 2.9% during the same time and is heading into earnings with an average analyst price target of $293 (compared to the current share price of $279.19).
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