Hartford Financial Services Group First Quarter 2024 Earnings: Revenues Disappoint

Hartford Financial Services Group (NYSE:HIG) First Quarter 2024 Results

Key Financial Results

• Revenue: US$6.43b (up 8.6% from 1Q 2023).
• Net income: US$748.0m (up 41% from 1Q 2023).
• Profit margin: 12% (up from 9.0% in 1Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$2.51 (up from US$1.69 in 1Q 2023).

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

Hartford Financial Services Group Revenues Disappoint

Revenue missed analyst estimates by 1.0%. Earnings per share (EPS) was mostly in line with analyst estimates.

Looking ahead, revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 6.0% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are down 3.7% from a week ago.

Risk Analysis

Before you take the next step you should know about the 1 warning sign for Hartford Financial Services Group that we have uncovered.

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