CCC Intelligent Solutions Holdings Inc. (CCCS) Q2 Earnings and Revenues Surpass Estimates

Core Viewpoint - CCC Intelligent Solutions Holdings Inc. reported quarterly earnings of $0.09 per share, exceeding the Zacks Consensus Estimate of $0.08 per share, and showing an increase from $0.07 per share a year ago [1] Group 1: Earnings Performance - The company has surpassed consensus EPS estimates two times over the last four quarters [2] - The recent earnings report resulted in an earnings surprise of 12.50% [8] - The upcoming quarterly earnings estimate is projected at $0.66 per share, reflecting a year-over-year increase of 57.1% [7] Group 2: Revenue Performance - CCC Intelligent Solutions reported revenues of $232.62 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 1.16%, compared to $211.71 million in the same quarter last year [9] - The company has exceeded consensus revenue estimates four times in the last four quarters [9] Group 3: Market Position and Outlook - The stock has underperformed the market, losing about 3% since the beginning of the year, while the S&P 500 has gained 14.5% [10] - The current consensus EPS estimate for the upcoming quarter is $0.09 on revenues of $241.46 million, and for the current fiscal year, it is $0.37 on revenues of $948.13 million [12] - The estimate revisions trend for the company is mixed, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [5] Group 4: Industry Context - The Insurance - Property and Casualty industry, to which CCC Intelligent Solutions belongs, is currently in the top 40% of over 250 Zacks industries, suggesting a favorable industry outlook [6] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [11]