Universal Insurance Hldgs Q3 2024 Adj. EPS $(0.73) Beats $(0.96) Estimate, Sales $387.554M Beat $341.980M Estimate
Portfolio Pulse from Benzinga Newsdesk
Universal Insurance Holdings (NYSE:UVE) reported Q3 2024 adjusted EPS of $(0.73), beating the estimate of $(0.96). Sales were $387.554M, surpassing the $341.980M estimate. Despite a significant year-over-year EPS decrease, sales increased by 7.64%.
October 24, 2024 | 8:19 pm
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Universal Insurance Holdings reported better-than-expected Q3 2024 results with an adjusted EPS of $(0.73) and sales of $387.554M, both beating analyst estimates. Despite a significant year-over-year EPS decrease, sales increased by 7.64%.
The better-than-expected EPS and sales figures are likely to positively impact UVE's stock price in the short term. Beating analyst estimates often leads to a positive market reaction. However, the significant year-over-year EPS decrease may temper some of the enthusiasm.
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