Specialty insurance provider Skyward Specialty Insurance (NASDAQ: SKWD) will be reporting results this Thursday after market close. Here’s what to look for.
Skyward Specialty Insurance beat analysts’ revenue expectations last quarter, reporting revenues of $489.5 million, up 53% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ net premiums earned estimates and a decent beat of analysts’ book value per share estimates.
Is Skyward Specialty Insurance 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 Skyward Specialty Insurance’s revenue to grow 30.8% year on year, improving from the 27.1% 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. Skyward Specialty Insurance rarely misses Wall Street’s revenue estimates.
Looking at Skyward Specialty Insurance’s peers in the property & casualty insurance segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Assurant delivered year-on-year revenue growth of 9.7%, beating analysts’ expectations by 2.4%, and Markel Group reported revenues up 5.7%, topping estimates by 10%. Markel Group traded up 1.2% following the results.
Read our full analysis of Assurant’s results here and Markel Group’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 6.9% on average over the last month. Skyward Specialty Insurance is up 10.3% during the same time and is heading into earnings with an average analyst price target of $70.73 (compared to the current share price of $60.90).
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