Axis Capital Holdings Q1 2024 Adj EPS $2.57 Beats $2.40 Estimate, Sales $1.425B Miss $1.600B Estimate
Portfolio Pulse from Benzinga Newsdesk
Axis Capital Holdings (NYSE:AXS) reported Q1 2024 adjusted EPS of $2.57, surpassing the $2.40 estimate, marking a 10.3% year-over-year increase. However, their sales of $1.425B fell short of the $1.600B estimate, despite a 6.00% increase from the previous year.
May 01, 2024 | 8:48 pm
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Axis Capital Holdings reported a strong Q1 2024 EPS of $2.57, beating estimates, with a 10.3% increase from last year. However, sales missed estimates at $1.425B, a 6% increase YoY.
The positive earnings surprise and year-over-year growth in EPS are likely to be viewed favorably by investors, potentially leading to a short-term positive impact on AXS's stock price. However, the miss on sales estimates could temper some of the enthusiasm, making the overall impact positive but with caution due to mixed results.
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