Selective Insurance Gr Q2 2024 Adj EPS $(1.10) Misses $1.49 Estimate, Sales $1.196B Miss $1.204B Estimate
Portfolio Pulse from Benzinga Newsdesk
Selective Insurance Group (NASDAQ: SIGI) reported a Q2 2024 adjusted EPS of $(1.10), significantly missing the analyst estimate of $1.49. The company also reported sales of $1.196 billion, slightly below the $1.204 billion estimate. Despite the misses, sales increased by 10.23% year-over-year.
July 18, 2024 | 8:22 pm
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Selective Insurance Group reported a Q2 2024 adjusted EPS of $(1.10), missing the analyst estimate of $1.49 by a wide margin. Sales were $1.196 billion, slightly below the $1.204 billion estimate but up 10.23% year-over-year.
The significant miss on EPS and slight miss on sales estimates are likely to negatively impact SIGI's stock price in the short term. However, the year-over-year sales growth of 10.23% may provide some support.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100