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Employers Holdings (EIG) Q4 Earnings Top Estimates
ZACKS· 2025-02-20 23:45
Group 1 - Employers Holdings (EIG) reported quarterly earnings of $1.15 per share, exceeding the Zacks Consensus Estimate of $1.08 per share, but down from $1.40 per share a year ago, representing an earnings surprise of 6.48% [1] - The company posted revenues of $216.6 million for the quarter ended December 2024, missing the Zacks Consensus Estimate by 2.07%, and down from $225.7 million year-over-year [2] - Over the last four quarters, Employers Holdings has surpassed consensus EPS estimates three times, but has topped consensus revenue estimates only once [2] Group 2 - The stock has underperformed the market, losing about 4.2% since the beginning of the year compared to the S&P 500's gain of 4.5% [3] - The current consensus EPS estimate for the coming quarter is $0.72 on revenues of $220.53 million, and for the current fiscal year, it is $3.63 on revenues of $895.74 million [7] - The Zacks Industry Rank for Insurance - Accident and Health is currently in the top 22% of over 250 Zacks industries, indicating a favorable outlook for the industry [8]
Employers (EIG) - 2024 Q4 - Annual Results
2025-02-20 21:20
Financial Performance - Gross premiums written for Q4 2024 were $176.3 million, a decrease of 1% from $178.2 million in Q4 2023[4] - Net income for Q4 2024 was $28.3 million, down 38% from $45.6 million in Q4 2023[4] - Net premiums earned increased by 1% to $190.2 million in Q4 2024 from $187.5 million in Q4 2023[4] - Total revenues for the year ended December 31, 2024, were $880.7 million, compared to $850.9 million in 2023, reflecting a growth of 3%[9] - Adjusted net income for the year ended December 31, 2024, was $94.0 million, down from $101.7 million in 2023[11] - Net income for the three months ended December 31, 2024, was $28.3 million, a decrease from $45.6 million in the same period of 2023[11] - Adjusted net income for the three months ended December 31, 2024, was $28.7 million, compared to $36.1 million in 2023, reflecting a decrease of 20.5%[22] - Net income excluding the LPT Agreement for the year ended December 31, 2024, was $113.0 million, up from $110.9 million in 2023, a growth of 1.9%[22] Underwriting Performance - The combined ratio excluding LPT for Q4 2024 was 95.5%, compared to 88.8% in Q4 2023, indicating a deterioration in underwriting performance[4] - The GAAP combined ratio for the three months ended December 31, 2024, was 95.5%, compared to 88.1% in the same period of 2023[13] - Losses and LAE incurred for the year ended December 31, 2024, totaled $456.2 million, an increase from $405.7 million in 2023[13] Shareholder Metrics - Cash dividends declared per share increased by 7% to $0.30 in Q4 2024 from $0.28 in Q4 2023[4] - Basic earnings per share (EPS) decreased to $1.14 in Q4 2024 from $1.78 in Q4 2023, a decline of 36%[22] - Cash dividends declared per share rose to $1.18 in 2024 from $1.10 in 2023, an increase of 7.3%[19] - Book value per share rose to $43.52 in Q4 2024, up 9% from $39.96 in Q4 2023[7] - Book value per share increased by 11.9% year-to-date, reaching $43.52 in 2024 compared to $39.96 in 2023[19] - Adjusted book value per share increased to $50.71 in 2024 from $47.26 in 2023, marking a growth of 9.8%[19] - Stockholders' equity increased by 5% to $1,068.7 million as of December 31, 2024, compared to $1,013.9 million in 2023[7] - Stockholders' equity at the end of the period was $1,068.7 million, unchanged from the previous year[11] - Stockholders' equity increased to $1,068.7 million in 2024 from $1,013.9 million in 2023, representing a growth of 5.4%[19] - The average stockholders' equity for the year ended December 31, 2024, was $1,041.3 million, compared to $979.1 million in 2023[11] Investment Performance - Net investment income for the year ended December 31, 2024, was $107.0 million, slightly up from $106.5 million in 2023[4] - Total investments and cash as of December 31, 2024, amounted to $2,532.4 million, slightly up from $2,504.7 million in 2023[17] - The weighted average ending book yield on fixed income securities, cash, and cash equivalents was 4.5% as of December 31, 2024[17] Other Metrics - The impact of the LPT Agreement on net income was minimal, with a contribution of $0.1 million in Q4 2024 compared to a loss of $1.2 million in Q4 2023[22] - Deferred Gain decreased slightly to $94.0 million in 2024 from $99.2 million in 2023, a decline of 5.2%[19] - The net unpaid losses and LAE at the end of the period was $1,395.8 million, consistent with the previous year[15] - Average common shares outstanding (basic) decreased to 24,725,425 in Q4 2024 from 25,645,821 in Q4 2023, a reduction of 3.6%[22]
Employers Holdings, Inc. Reports Fourth Quarter 2024 and Full-Year Financial Results; Declares Quarterly Cash Dividend of $0.30 per Share
Globenewswire· 2025-02-20 21:15
Core Insights - Employers Holdings, Inc. reported record financial results for the fourth quarter and full year 2024, achieving the highest levels of written and earned premium, in-force premium, policies, and net investment income in the company's history [2][3]. Financial Performance - Full-year 2024 net income was $118.6 million ($4.71 per diluted share), compared to $118.1 million ($4.45 per diluted share) in 2023, reflecting a slight increase [4]. - Adjusted net income for 2024 was $94.0 million ($3.73 per diluted share), down from $101.7 million ($3.83 per diluted share) in 2023 [4]. - Gross premiums written for the fourth quarter were $176.3 million, a decrease of 1% from $178.2 million in the same quarter of 2023 [8]. - Net premiums earned increased by 1% to $190.2 million in the fourth quarter compared to $187.5 million in the previous year [8]. - The company recognized $24.1 million of after-tax unrealized gains from common stocks and other investments [3]. Loss Ratios and Underwriting - The current accident year loss and LAE ratio on voluntary business was 64.0%, slightly above the previous year's ratio [3]. - The GAAP combined ratio for the fourth quarter was 97.9%, compared to 95.0% in the same quarter of 2023 [4]. - The ex-LPT combined ratio for the fourth quarter was 95.5%, while the full-year ratio was 98.6% [3][4]. Investment Performance - Net investment income for the fourth quarter was $26.7 million, an increase of 2% from $26.2 million in the previous year [12]. - The company reported total assets of $3,541.3 million as of December 31, 2024, compared to $3,550.4 million at the end of 2023 [34]. Shareholder Returns - The company returned $71.7 million to shareholders through share repurchases and dividends in 2024 [4]. - A first-quarter dividend of $0.30 per share was declared, payable on March 19, 2025 [17]. Operational Efficiency - Total underwriting expenses decreased by 5% to $68.6 million, primarily due to lower IT expenses from the Cerity integration [10]. - The company continues to focus on expanding its appetite, increasing self-service options, and enhancing operational efficiencies for 2025 [6]. Market Position - Employers Holdings, Inc. operates as a specialty provider of workers' compensation insurance, primarily targeting small and mid-sized businesses in low-to-medium hazard industries [24]. - The company has received an upgrade to its AM Best Financial Strength Rating to "A" (Excellent), indicating strong market positioning [5].
Konica Minolta Included in Forbes' America's Best Employers 2025 List
GlobeNewswire News Room· 2025-02-19 15:13
Core Points - Konica Minolta Business Solutions U.S.A., Inc. has been recognized as one of America's Best Large Employers for 2025 by Forbes in collaboration with Statista [1][6] - The selection process involved an independent survey of over 217,000 U.S. employees from companies with at least 1,000 employees, considering more than 6.5 million employer evaluations [2] Company Culture and Values - The recognition reflects the commitment of Konica Minolta's employees to innovation, teamwork, and making a meaningful impact, emphasizing the importance of a culture where every voice is valued [3][4] - The company promotes inclusivity, diversity, and equal opportunity, ensuring a welcoming workplace for individuals of all identities and backgrounds [4][5] Employee Development and Well-being - Konica Minolta prioritizes employee well-being, offering growth opportunities, benefits, and a healthy work-life balance, which motivates employees to thrive [4] - The company is dedicated to continuous investment in its workforce through active learning and upskilling initiatives [4] Company Background and Offerings - Konica Minolta has a 150-year history focused on innovation for societal good, aiming to support clients in their digital transformation [6] - The company provides a range of business technology solutions, including IT services, intelligent information management, and managed print services [6]
Casella Recognized on Forbes America's Best Midsize Employers List
GlobeNewswire News Room· 2025-02-19 14:00
Core Insights - Casella Waste Systems, Inc. has been recognized in Forbes' "America's Best Midsize Employers" list for 2025, being the only company in its industry and the only one headquartered in Vermont to receive this honor [1][2] Company Overview - Casella Waste Systems, Inc. is a regional solid waste, recycling, and resource management services company based in Rutland, Vermont, serving various customer segments including residential, commercial, municipal, institutional, and industrial clients primarily in the eastern United States [6] Employee Investment and Training - The company emphasizes its workforce as a key competitive advantage, having invested significantly in safety, training, recruitment, and retention, which benefits both customers and communities [3] - In 2020, Casella established the Kenneth A. Hier Sr. CDL Training Center, training over 300 new drivers since its inception, reflecting its commitment to safety and customer service [3] Recognition and Growth - In 2024, Casella was also included in Time's "America's Best Midsize Companies" list, highlighting its employee satisfaction, revenue growth, and sustainability transparency [4] - As the company surpasses 5,000 employees, it continues to focus on service, training, and culture as essential elements for sustainable growth [5]
Myriad Genetics Included in Forbes America's Best Employers 2025 List
GlobeNewswire News Room· 2025-02-19 13:30
Core Insights - Myriad Genetics, Inc. has been recognized on Forbes' list of America's Best Employers 2025, highlighting its status as a leader in genetic and genomic tumor testing and precision medicine [1] - The company received positive feedback from its employees, with 84% stating it is a Great Place To Work, which is 27 percentage points higher than the average U.S. company [2] Company Overview - Myriad Genetics is dedicated to advancing health and well-being through genetic testing that assesses disease risk and guides treatment decisions, ultimately improving patient care and reducing healthcare costs [6] - The company emphasizes innovation and teamwork, aiming to empower individuals by revealing genetic insights [2] Survey Methodology - The Forbes and Statista selection process for America's Best Employers involved an independent survey of over 217,000 U.S. employees from companies with at least 1,000 employees, considering more than 6.5 million employer evaluations [3]
Robert Half Named One of America's Best Large Employers in 2025 by Forbes
Prnewswire· 2025-02-14 17:00
Core Insights - Robert Half has been recognized by Forbes as one of America's Best Large Employers for 2025, highlighting its strong employee satisfaction and workplace culture [1][2]. Company Overview - Robert Half is the world's first and largest specialized talent solutions and business consulting firm, providing contract talent and permanent placement solutions across various fields including finance, accounting, technology, marketing, legal, and administrative support [4]. - The company also owns Protiviti, a global consulting firm that offers internal audit, risk, and business consulting solutions [4]. Employee Experience - The company offers flexible work options, competitive benefits, wellness offerings, and employee network groups, contributing to a positive work environment [3]. - Robert Half has been recognized for its commitment to employee development and workplace well-being, being named a Fortune Most Admired Company for 28 consecutive years and receiving accolades as a World's Best Employer and a Best Employer for Women [3]. Survey Methodology - The ranking by Forbes is based on an independent survey of approximately 217,000 workers from companies with 5,000 or more employees in the U.S., assessing factors such as compensation, advancement opportunities, and workplace flexibility [2].
La-Z-Boy Incorporated Named to Forbes' 2025 List of America's Best Large Employers
GlobeNewswire News Room· 2025-02-13 14:00
MONROE, Mich., Feb. 13, 2025 (GLOBE NEWSWIRE) -- La-Z-Boy Incorporated (NYSE: LZB), a global leader in the manufacture and retail of residential furniture, announced today that it has been recognized as one of America's Best Large Employers by Forbes for 2025. The list, produced in partnership with market research firm Statista, recognizes companies that excel across a broad spectrum of industries in six key dimensions: atmosphere and development, salary/wage, image, diversity, working conditions, and workp ...
Atmos Energy Recognized on Forbes “America's Best Employers” List for Fifth Consecutive Year
GlobeNewswire News Room· 2025-02-12 17:14
Dallas, Feb. 12, 2025 (GLOBE NEWSWIRE) -- Along with Atmos Energy’s vision to be the safest provider of natural gas services is also to be recognized for being a great employer, and for the fifth consecutive year the company has done just that. Today Atmos Energy was recognized as a leading employer in the U.S. and in the utilities industry when it was named to the Forbes “America’s Best Employers” list. Key to this honor is the company’s unique culture, AtmoSpirit, which fosters innovation and engagement t ...
OpenText named one of Canada's Best Employers 2025 for the fifth consecutive year by Forbes
Prnewswire· 2025-02-05 14:00
Core Insights - OpenText has been recognized as one of Canada's Best Employers for 2025 by Forbes, marking the fifth consecutive year the company has received this accolade [1][2] - The recognition highlights OpenText's commitment to work flexibility, professional development, and growth opportunities for employees [1][2] - OpenText has also been acknowledged as one of Waterloo Area's Top Employers for the 15th consecutive year and one of Canada's Top Employers for Young People for the fourth consecutive year [2] Company Culture and Employee Benefits - OpenText emphasizes a culture of exceptional talent and personal and professional growth, aiming to be a workplace where technology professionals want to build their careers [2][3] - The company offers unique employee benefits, including education reimbursement programs, paid volunteer days, retirement and stock purchase plans, and wellness and fitness reimbursement [3] - OpenText's Canadian heritage and the contributions of its employees are highlighted as vital to its success and workplace environment [3] Company Background - Founded in 1991 in Waterloo, Ontario, OpenText originated from a partnership between the University of Waterloo and Oxford University to create the first online Oxford English Dictionary [3][4] - OpenText is recognized as a leading Information Management software and services company, providing solutions to complex global problems through its suite of Business Clouds, Business AI, and Business Technology [4]