Global life reinsurance provider Reinsurance Group of America (NYSE: RGA) will be reporting results this Thursday afternoon. Here’s what to expect.
Reinsurance Group of America beat analysts’ revenue expectations last quarter, reporting revenues of $6.64 billion, up 24.3% year on year. It was a stunning quarter for the company, with an impressive beat of analysts’ book value per share estimates and a beat of analysts’ EPS estimates.
Is Reinsurance Group of America 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 Reinsurance Group of America’s revenue to grow 16.8% year on year, improving from the 10.9% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Reinsurance Group of America rarely misses Wall Street’s revenue estimates.
Looking at Reinsurance Group of America’s peers in the reinsurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. RenaissanceRe’s revenues decreased 13.7% year on year, beating analysts’ expectations by 3.7%, and Everest Group reported a revenue decline of 11.8%, falling short of estimates by 1.8%. RenaissanceRe’s stock price was unchanged after the resultswhile Everest Group was down 4.7%.
Read our full analysis of RenaissanceRe’s results here and Everest Group’s results here.
Investors in the reinsurance segment have had steady hands going into earnings, with share prices up 1.7% on average over the last month. Reinsurance Group of America is up 5.4% during the same time and is heading into earnings with an average analyst price target of $261.78 (compared to the current share price of $236.27).
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