Here's What Key Metrics Tell Us About ProAssurance (PRA) Q3 Earnings
ProAssurance (PRA) reported $278.51 million in revenue for the quarter ended September 2023, representing a year-over-year decline of 3.4%. EPS of -$0.07 for the same period compares to -$0.06 a year ago.
The reported revenue represents a surprise of -1.41% over the Zacks Consensus Estimate of $282.49 million. With the consensus EPS estimate being $0.15, the EPS surprise was -146.67%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how ProAssurance performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Combined Ratio: 116.7% versus 107.8% estimated by four analysts on average.
Underwriting Expense Ratio: 30.5% compared to the 30.2% average estimate based on four analysts.
Net Loss Ratio: 86.2% compared to the 78.1% average estimate based on four analysts.
Underwriting Expense Ratio - Workers Compensation: 34% versus the three-analyst average estimate of 33.4%.
Net premiums earned: $242.42 million compared to the $238.36 million average estimate based on four analysts. The reported number represents a change of -6.2% year over year.
Net investment income: $32.75 million compared to the $32.49 million average estimate based on four analysts. The reported number represents a change of +32.4% year over year.
Other income(loss): $3.34 million versus the four-analyst average estimate of $1.57 million. The reported number represents a year-over-year change of -34.6%.
Equity in earnings (loss) of unconsolidated subsidiaries: -$0.06 million versus $2.07 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -99.1% change.
Net Premiums Earned- Workers Compensation: $39.89 million compared to the $41.24 million average estimate based on three analysts. The reported number represents a change of -5.2% year over year.
Net Premiums Earned- Specialty Property & Casualty: $195.77 million versus $181.42 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +1.6% change.
Net Premiums Earned- Segregated Portfolio Cell Reinsurance: $6.76 million compared to the $18.67 million average estimate based on three analysts. The reported number represents a change of -62% year over year.
Net investment gains (losses)- Segregated Portfolio Cell Reinsurance: $0.53 million compared to the $0.56 million average estimate based on two analysts.
View all Key Company Metrics for ProAssurance here>>>
Shares of ProAssurance have returned +2.1% over the past month versus the Zacks S&P 500 composite's +1.7% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
ProAssurance Corporation (PRA) : Free Stock Analysis Report
