Selective Insurance Group Second Quarter 2024 Earnings: Misses Expectations
Selective Insurance Group (NASDAQ:SIGI) Second Quarter 2024 ResultsKey Financial Results
Revenue: US$1.20b (up 15% from 2Q 2023).
Net loss: US$65.6m (down by 217% from US$56.3m profit in 2Q 2023).
US$1.08 loss per share (down from US$0.92 profit in 2Q 2023).
earnings-and-revenue-growth
All figures shown in the chart above are for the trailing 12 month (TTM) period
Selective Insurance Group Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 1.2%. Earnings per share (EPS) was also behind analyst expectations.
Looking ahead, revenue is forecast to grow 9.6% p.a. on average during the next 3 years, compared to a 5.1% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company’s shares are up 11% from a week ago.
Balance Sheet Analysis
While earnings are important, another area to consider is the balance sheet. We’ve done some analysis and you can see our take on Selective Insurance Group’s balance sheet.
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