Insurance conglomerate Old Republic International (NYSE: ORI) will be announcing earnings results this Thursday before the bell. Here’s what you need to know.
Old Republic International missed analysts’ revenue expectations last quarter, reporting revenues of $2.20 billion, up 6.7% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ net premiums earned estimates and a significant miss of analysts’ EPS estimates.
Is Old Republic International a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Old Republic International’s revenue to grow 7.2% year on year, slowing from the 10.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Old Republic International rarely misses Wall Street’s revenue estimates.
Looking at Old Republic International’s peers in the property & casualty insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Travelers posted flat year-on-year revenue, missing analysts’ expectations by 0.9%, and W. R. Berkley reported revenues up 1.2%, falling short of estimates by 1.4%. Travelers traded up 8.9% following the results while W. R. Berkley’s stock price was unchanged.
Read our full analysis of Travelers’s results here and W. R. Berkley’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 9.2% on average over the last month. Old Republic International is up 7% during the same time and is heading into earnings with an average analyst price target of $42 (compared to the current share price of $41.80).
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