ProAssurance (PRA) reported $278.23 million in revenue for the quarter ended September 2024, representing a year-over-year decline of 0.1%. EPS of $0.34 for the same period compares to -$0.07 a year ago.
The reported revenue represents a surprise of +2.77% over the Zacks Consensus Estimate of $270.75 million. With the consensus EPS estimate being $0.12, the EPS surprise was +183.33%.
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 ProAssurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Net Loss Ratio: 72.5% compared to the 80.1% average estimate based on five analysts.
- Underwriting Expense Ratio: 33.1% versus the five-analyst average estimate of 32.8%.
- Combined Ratio: 105.6% versus 112.9% estimated by five analysts on average.
- Net Loss Ratio - Workers Compensation: 77% versus 83.3% estimated by three analysts on average.
- Net premiums earned: $243.16 million versus the five-analyst average estimate of $231.29 million. The reported number represents a year-over-year change of +0.3%.
- Net investment income: $37.27 million versus the five-analyst average estimate of $36.63 million. The reported number represents a year-over-year change of +13.8%.
- Equity in earnings (loss) of unconsolidated subsidiaries: $4.77 million versus $3.71 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -7914.8% change.
- Other income(loss): -$2.20 million versus $2.82 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a -165.9% change.
- Net Premiums Earned- Specialty Property & Casualty: $188.70 million versus the three-analyst average estimate of $185.52 million. The reported number represents a year-over-year change of -3.6%.
- Net Premiums Earned- Segregated Portfolio Cell Reinsurance: $12.63 million compared to the $11.43 million average estimate based on three analysts. The reported number represents a change of +86.7% year over year.
- Net Premiums Earned- Workers Compensation: $41.83 million versus the three-analyst average estimate of $40.23 million. The reported number represents a year-over-year change of +4.9%.
- Net investment income- Segregated Portfolio Cell Reinsurance: $1.01 million compared to the $0.87 million average estimate based on two analysts. The reported number represents a change of +67.9% year over year.
Shares of ProAssurance have returned +13.6% over the past month versus the Zacks S&P 500 composite's +3.2% 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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