Root(US:ROOT) ZACKSยท2024-08-08 01:20Core Viewpoint - Root, Inc. reported a quarterly loss of $0.52 per share, significantly better than the Zacks Consensus Estimate of a loss of $1.74, marking an earnings surprise of 70.11% [1] - The company has consistently surpassed consensus EPS estimates over the last four quarters [2] Financial Performance - Root's revenues for the quarter ended June 2024 were $289.2 million, exceeding the Zacks Consensus Estimate by 25.74%, compared to $74.8 million in the same quarter last year [2] - The company has also topped consensus revenue estimates in each of the last four quarters [2] Stock Performance - Root shares have increased approximately 427.3% since the beginning of the year, outperforming the S&P 500's gain of 9.9% [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is -$1.16 on revenues of $256 million, and for the current fiscal year, it is -$4.03 on revenues of $1.02 billion [7] - The trend of estimate revisions for Root is mixed, which may change following the recent earnings report [6] Industry Context - The Insurance - Property and Casualty industry, to which Root belongs, is currently ranked in the top 39% of over 250 Zacks industries, suggesting a favorable outlook compared to lower-ranked industries [8]