Everest Group beats Q1 adjusted EPS estimates

Everest

29/04/2026 21:32

Overview

Global property and casualty insurer's Q1 adjusted EPS beat analyst expectations

Net income rose sharply yr/yr, while gross written premium declined 18.5%

Company repurchased $331 mln in common shares during the quarter

Outlook

Everest expects premiums earned in the Legacy segment to diminish to a small amount by year-end

Company says it is focused on underwriting discipline and accelerating capital return through 2026

Result Drivers

LOWER CATASTROPHE LOSSES - Q1 pre-tax catastrophe losses fell to $130 mln from $472 mln a year earlier, supporting improved underwriting results

FAVORABLE PRIOR YEAR DEVELOPMENT - Net favorable development of $33 mln in prior year loss reserves reduced the combined ratio by 0.9 points, mainly from short tail lines

HIGHER INVESTMENT INCOME - Net investment income rose to $567 mln from $491 mln, driven by strong alternative investment returns

Company press release: ID:nBwqDhx2a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EPS
Beat
$16.08
$14.05 (14 Analysts)
Q1 Net Income
$653 mln
Q1 Combined Ratio
91.20%
Q1 Operating Income
$648 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 6 "strong buy" or "buy", 12 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the reinsurance peer group is "buy."

Wall Street's median 12-month price target for Everest Group Ltd is $365.00, about 5.2% above its April 28 closing price of $347.07

The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)