Selective Insurance Group Second Quarter 2024 Earnings: Misses Expectations

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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).

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earnings-and-revenue-growth

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

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.

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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

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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