ProAssurance (PRA) Reports Q2 Earnings: What Key Metrics Have to Say
ProAssurance (PRA) reported $282.25 million in revenue for the quarter ended June 2023, representing a year-over-year increase of 2.8%. EPS of $0.16 for the same period compares to $0.30 a year ago.
The reported revenue represents a surprise of +6.36% over the Zacks Consensus Estimate of $265.39 million. With the consensus EPS estimate being $0.08, the EPS surprise was +100.00%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
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: 108.2% versus 109.28% estimated by five analysts on average.
Underwriting Expense Ratio: 31.1% compared to the 30.2% average estimate based on five analysts.
Net Loss Ratio: 77.1% compared to the 79.1% average estimate based on five analysts.
Underwriting Expense Ratio - Workers Compensation: 35.1% versus the two-analyst average estimate of 32.7%.
Net investment income: $31.65 million versus the five-analyst average estimate of $29.52 million. The reported number represents a year-over-year change of +44.2%.
Net premiums earned: $247.86 million compared to the $241.43 million average estimate based on five analysts. The reported number represents a change of +0.2% year over year.
Other income(loss): $2.74 million versus $1.82 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -48.4% change.
Net Premiums Earned- Workers Compensation: $41.02 million compared to the $41.22 million average estimate based on three analysts. The reported number represents a change of -1.7% year over year.
Net Premiums Earned- Segregated Portfolio Cell Reinsurance: $24.09 million versus the three-analyst average estimate of $15.02 million. The reported number represents a year-over-year change of +48.5%.
Net Premiums Earned- Specialty Property & Casualty: $178.90 million compared to the $177.70 million average estimate based on three analysts. The reported number represents a change of -2.5% year over year.
Net Premiums Earned- Lloyd's Syndicate: $3.85 million compared to the $3.65 million average estimate based on three analysts. The reported number represents a change of -33.6% year over year.
Net investment income- Segregated Portfolio Cell Reinsurance: $0.60 million versus $0.41 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a +185.8% change.
View all Key Company Metrics for ProAssurance here>>>
Shares of ProAssurance have returned +9.1% over the past month versus the Zacks S&P 500 composite's +2.8% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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ProAssurance Corporation (PRA) : Free Stock Analysis Report
