ProAssurance Third Quarter 2024 Earnings: Beats Expectations

ProAssurance (NYSE:PRA) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$285.3m (up 3.4% from 3Q 2023).
• Net income: US$16.4m (up from US$49.4m loss in 3Q 2023).
• Profit margin: 5.8% (up from net loss in 3Q 2023). The move to profitability was primarily driven by lower expenses.
• EPS: US$0.32 (up from US$0.95 loss in 3Q 2023).

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

ProAssurance Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 172%.

Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 5.3% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's shares are up 17% from a week ago.

Balance Sheet Analysis

While it's very important to consider the profit and loss statement, you can also learn a lot about a company by looking at its balance sheet. See our latest analysis on ProAssurance's balance sheet health.

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