Global Indemnity Group Second Quarter 2024 Earnings: EPS Beats Expectations, Revenues Lag

Global Indemnity Group (NYSE:GBLI) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$108.7m (down 23% from 2Q 2023).
• Net income: US$9.98m (up 8.2% from 2Q 2023).
• Profit margin: 9.2% (up from 6.5% in 2Q 2023). The increase in margin was driven by lower expenses.
• EPS: US$0.73 (up from US$0.69 in 2Q 2023).

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

Global Indemnity Group EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 4.7%. Earnings per share (EPS) exceeded analyst estimates by 38%.

Looking ahead, revenue is forecast to grow 7.2% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are up 4.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Global Indemnity Group that you need to be mindful of.

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