Markel Group Full Year 2023 Earnings: Beats Expectations
Markel Group (NYSE:MKL) Full Year 2023 Results
Key Financial Results
Revenue: US$15.8b (up 35% from FY 2022).
Net income: US$1.97b (up from US$320.0m loss in FY 2022).
Profit margin: 12% (up from net loss in FY 2022). The move to profitability was driven by higher revenue.
EPS: US$147 (up from US$23.57 loss in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Markel Group Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 6.2%. Earnings per share (EPS) also surpassed analyst estimates by 33%.
The primary driver behind last 12 months revenue was the Insurance segment contributing a total revenue of US$7.28b (46% of total revenue). Notably, cost of sales worth US$8.16b amounted to 52% of total revenue thereby underscoring the impact on earnings.Explore how MKL's revenue and expenses shape its earnings.
Looking ahead, revenue is forecast to grow 3.0% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company's shares are down 5.5% from a week ago.
Risk Analysis
Before you take the next step you should know about the 1 warning sign for Markel Group that we have uncovered.
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