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Axis Capital: 3Q Earnings Snapshot

·1 min read

PEMBROKE, Bermuda (AP) _ Axis Capital Holdings Ltd. (AXS) on Wednesday reported a third-quarter loss of $65.4 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Pembroke, Bermuda-based company said it had a loss of 87 cents. Losses, adjusted for non-recurring costs, were 77 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 87 cents per share.

The insurance company posted revenue of $1.25 billion in the period. Its adjusted revenue was $1.19 billion.

Axis Capital shares have fallen 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $44.62, a fall of 28% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXS at https://www.zacks.com/ap/AXS