RenaissanceRe Holdings Q2 EPS $8.79 Beats $7.49 Estimate, Sales $1.85B Miss $1.92B Estimate
Portfolio Pulse from Benzinga Newsdesk
RenaissanceRe Holdings (NYSE:RNR) reported Q2 earnings of $8.79 per share, beating the analyst consensus estimate of $7.49 by 17.36%. This is a 59.53% increase from the same period last year. However, the company's quarterly sales of $1.85 billion missed the analyst consensus estimate of $1.92 billion by 3.48%, despite being a 113.76% increase from last year.
July 25, 2023 | 8:18 pm
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NEUTRAL IMPACT
RenaissanceRe Holdings reported better than expected Q2 earnings but missed on sales. This could have a mixed impact on the stock.
RenaissanceRe's better than expected earnings could boost investor confidence and potentially drive the stock price up. However, the missed sales estimate could offset this positive impact, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100