Global insurance provider Chubb Limited (NYSE: CB) will be reporting results this Tuesday after the bell. Here’s what to expect.
Chubb beat analysts’ revenue expectations last quarter, reporting revenues of $15.34 billion, up 7.4% year on year. It was a slower quarter for the company, with a significant miss of analysts’ book value per share estimates and net premiums earned in line with analysts’ estimates.
Is Chubb a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Chubb’s revenue to grow 6.9% year on year, improving from the 4.6% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Chubb has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Chubb’s peers in the insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 8.7%, meeting analysts’ expectations, and Travelers reported flat revenue, falling short of estimates by 3.6%. Progressive traded up 3.5% following the results while Travelers’s stock price was unchanged.
Read our full analysis of Progressive’s results here and Travelers’s results here.
There has been positive sentiment among investors in the insurance segment, with share prices up 7.1% on average over the last month. Chubb is up 1.4% during the same time and is heading into earnings with an average analyst price target of $341.39 (compared to the current share price of $331.00).
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