RLI (RLI) Q2 Earnings Report Preview: What To Look For
RLI missed analysts' revenue expectations by 7.8% last quarter, reporting revenues of $407.7 million, down 8.4% year on year. It was a softer quarter for the company, with a significant miss of analysts' book value per share estimates and a slight miss of analysts' net premiums earned estimates.
Is RLI a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting RLI's revenue to grow 7.5% year on year to $447.6 million, slowing from the 9.1% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.78 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. RLI has missed Wall Street's revenue estimates four times over the last two years.
Looking at RLI's peers in the insurance segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 21.3%, beating analysts' expectations by 1.4%, and Travelers reported revenues up 7.4%, in line with consensus estimates. Progressive traded up 2.2% following the results while Travelers was also up 5.5%.
Read our full analysis of Progressive's results here and Travelers's results here.
Investors in the insurance segment have had fairly steady hands going into earnings, with share prices down 1.7% on average over the last month. RLI is down 2.7% during the same time and is heading into earnings with an average analyst price target of $74.67 (compared to the current share price of $70.25).
Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next.
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