Property casualty insurer W. R. Berkley (NYSE: WRB) will be announcing earnings results this Monday after market close. Here’s what to look for.
W. R. Berkley met analysts’ revenue expectations last quarter, reporting revenues of $3.55 billion, up 8.9% year on year. It was a slower quarter for the company, with a significant miss of analysts’ book value per share estimates and EPS in line with analysts’ estimates.
Is W. R. Berkley a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting W. R. Berkley’s revenue to grow 9.7% year on year to $3.63 billion, in line with the 10.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.02 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. W. R. Berkley has missed Wall Street’s revenue estimates three times over the last two years.
Looking at W. R. Berkley’s peers in the insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 21.3%, beating analysts’ expectations by 1.4%, and Travelers reported revenues up 7.4%, in line with consensus estimates. Progressive traded up 2.2% following the results while Travelers was also up 5.5%.
Read our full analysis of Progressive’s results here and Travelers’s results here.
Investors in the insurance segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. W. R. Berkley is down 6.8% during the same time and is heading into earnings with an average analyst price target of $71.50 (compared to the current share price of $68.75).
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