IRB-Brasil Resseguros Third Quarter 2024 Earnings: Revenues Miss Expectations

IRB-Brasil Resseguros (BVMF:IRBR3) Third Quarter 2024 Results

Key Financial Results

• Revenue: R$1.65b (down 28% from 3Q 2023).
• Net income: R$192.5m (up 303% from 3Q 2023).
• Profit margin: 12% (up from 2.1% in 3Q 2023). The increase in margin was driven by lower expenses.

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

IRB-Brasil Resseguros Revenues Disappoint

Revenue missed analyst estimates by 16%.

Looking ahead, revenue is forecast to grow 6.0% p.a. on average during the next 3 years, compared to a 5.6% growth forecast for the Insurance industry in Brazil.

Performance of the Brazilian Insurance industry.

The company's shares are down 2.2% from a week ago.

Risk Analysis

Before we wrap up, we've discovered 1 warning sign for IRB-Brasil Resseguros that you should be aware of.

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