Insurance Australia Group First Half 2024 Earnings: EPS Misses Expectations

Insurance Australia Group (ASX:IAG) First Half 2024 Results

Key Financial Results

• Revenue: AU$7.86b (up 13% from 1H 2023).
• Net income: AU$407.0m (down 17% from 1H 2023).
• Profit margin: 5.2% (down from 7.0% in 1H 2023). The decrease in margin was driven by higher expenses.
• EPS: AU$0.17 (down from AU$0.20 in 1H 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Insurance Australia Group EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 6.8%.

Looking ahead, revenue is forecast to grow 3.2% p.a. on average during the next 3 years, compared to a 3.1% decline forecast for the Insurance industry in Australia.

Performance of the Australian Insurance industry.

The company's shares are down 2.4% from a week ago.

Balance Sheet Analysis

While earnings are important, another area to consider is the balance sheet. We have a graphic representation of Insurance Australia Group's balance sheet and an in-depth analysis of the company's financial position.

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