Arch Capital Group Ltd reports results for the quarter ended in January 1 - Earnings Summary

Arch Capital

31/10/2024 03:04

* Arch Capital Group Ltd  ACGL.OQ  reported quarterly
adjusted
earnings of $1.99​​ per share for the quarter ended January 1,
lower than the same quarter last year, when the company reported
EPS of $2.31.  The mean expectation of sixteen analysts for the
quarter was for earnings of $1.96 per share. Wall Street
expected results to range from $1.29  to $2.29 per share.
    * Revenue rose 20.6% to $4.05 billion from a year ago;
analysts
expected $3.90 billion. 
    * Arch Capital Group Ltd's reported EPS for the quarter was
$2.56​.
    * The company reported quarterly net income of $978 million.
    * Arch Capital Group Ltd shares had fallen by 6.3% this
quarter and gained 41.1% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 18.3%
in the last three months.​ 
    * In the last 30 days, two analysts negatively revised
earnings
estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 13 "strong buy" or "buy," 4
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "buy"

Wall Street's median 12-month price target for Arch Capital
Group Ltd is 125.00 
This summary was machine generated from LSEG data October 31 at
03:04 a.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Sep. 30 2024      1.96           1.99           Beat
 Jun. 30 2024      2.21           2.57           Beat
 Mar. 31 2024      2.10           2.45           Beat
 Dec. 31 2023      2.03           2.49           Beat