Safety Insurance Group Q4 2023 Adj EPS $0.30 Misses $0.77 Estimate, Sales $226.03M Up From $193.15M YoY
Portfolio Pulse from Benzinga Newsdesk
Safety Insurance Group (SAFT) reported Q4 2023 adjusted EPS of $0.30, missing the $0.77 estimate, a 69.39% decrease from last year's $0.98. Sales rose 17.02% YoY to $226.03M from $193.15M.
February 27, 2024 | 10:14 pm
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Safety Insurance Group reported a significant miss in Q4 2023 adjusted EPS at $0.30 against estimates of $0.77, with a 69.39% decrease from the previous year. However, sales increased by 17.02% YoY to $226.03M.
The significant miss in EPS is likely to negatively impact investor sentiment in the short term, despite the increase in sales. The sharp decrease in earnings compared to last year and the miss against analyst estimates suggest potential challenges in profitability, which could lead to a decrease in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100