QBE Insurance Group First Half 2024 Earnings: Revenues Beat Expectations, EPS Lags

QBE Insurance Group (ASX:QBE) First Half 2024 Results

Key Financial Results

• Revenue: US$10.9b (up 5.9% from 1H 2023).
• Net income: US$777.0m (up 107% from 1H 2023).
• Profit margin: 7.2% (up from 3.7% in 1H 2023). The increase in margin was driven by higher revenue.
• EPS: US$0.52 (up from US$0.25 in 1H 2023).

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

QBE Insurance Group Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 1.7%. Earnings per share (EPS) missed analyst estimates by 7.0%.

Looking ahead, revenue is forecast to decline by 1.9% p.a. on average during the next 3 years, while revenues in the Insurance industry in Australia are expected to remain flat.

Performance of the Australian Insurance industry.

The company's shares are down 7.5% from a week ago.

Risk Analysis

You still need to take note of risks, for example - QBE Insurance Group has 1 warning sign we think you should be aware of.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.