Yahoo Finance QBE Insurance Group First Half 2023 Earnings: Revenues Beat Expectations, EPS Lags
QBE Insurance Group (ASX:QBE) First Half 2023 Results
Key Financial Results
Revenue: US$12.2b (up 19% from 1H 2022).
Net income: US$375.0m (up by US$352.0m from 1H 2022).
Profit margin: 3.1% (up from 0.2% in 1H 2022). The increase in margin was driven by higher revenue.
EPS: US$0.25 (up from US$0.016 in 1H 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
QBE Insurance Group Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 6.5%. Earnings per share (EPS) missed analyst estimates by 27%.
Looking ahead, revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Insurance industry in Australia.
Performance of the Australian Insurance industry.
The company's shares are down 3.5% from a week ago.
Balance Sheet Analysis
Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. We have a graphic representation of QBE Insurance Group's balance sheet and an in-depth analysis of the company's financial position.
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