HomeRenters InsuranceAssurant Inc. Down 3.24% To $131.22 After Earnings Beat

Assurant Inc. Down 3.24% To $131.22 After Earnings Beat

Assurant, Inc. (AIZ) beat out earnings estimates for Q4 2022 this afternoon.

Assurant Inc.’s earnings came in at an EPS of $3.23 per share, 19.00% higher than estimates for an EPS of $2.71 per share. The firm’s earnings are up 31% since reporting $2.47 per share in the same period a year ago. Remember, earnings reported were on an adjusted basis, so they may not be comparable to prior reports and/or analyst estimates.

Analyst projections for Assurant Inc. revenue came in at a consensus of $2.6 billion. Fourth-Quarter revenues surpassed estimates for $2.7 billion by $23 million (1%). The company achieved 3% growth year-over-year compared to the firm’s revenue of $2.6 billion from the year-ago quarter. The higher earnings growth relative to revenue signals Assurant Inc. has improved its profit margin.

The stock is down 3.24% to $131.22 after the report.

The firm’s lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

InvestorsObserver gives the stock a Bullish Sentiment score at the moment based on recent trading.

Assurant Inc. has performed poorly during the past few months, garnering a low Long-Term Technical Rank by InvestorsObserver of 18, putting Assurant Inc. in the bottom 25% of stocks.

Assurant Inc offers a range of property-casualty, health, employee benefit, and warranty insurance to a client base made up of individuals and institutions. Its segments are Global Housing, Global Lifestyle, Corporate and Other. Global Housing segment, the key revenue-generating segment, provides lender-placed homeowners insurance, lender-placed manufactured housing insurance and lender-placed flood insurance; renters insurance and related products; and voluntary manufactured housing insurance, voluntary homeowners insurance and other specialty products. Global Lifestyle provides mobile device solutions and extended service products and related services for mobile devices, consumer electronics and appliances; vehicle protection; and credit protection and other insurance products.

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