Universal Insurance Holdings (UVE) Reports Q3 Loss, Tops Revenue Estimates

Financial Performance - Universal Insurance Holdings (UVE) reported a quarterly loss of $0.73 per share, which is better than the Zacks Consensus Estimate of a loss of $1.03, and compares to a loss of $0.16 per share a year ago, indicating an earnings surprise of 29.13% [1] - The company posted revenues of $387.55 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 13.33%, and this is an increase from year-ago revenues of $360.05 million [1] Stock Performance - Universal Insurance shares have increased by approximately 22.8% since the beginning of the year, outperforming the S&P 500's gain of 21.5% [2] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.06 on revenues of $345.09 million, and for the current fiscal year, it is $1.28 on revenues of $1.44 billion [4] - The estimate revisions trend for Universal Insurance is currently unfavorable, resulting in a Zacks Rank 4 (Sell) for the stock, indicating expected underperformance in the near future [4] Industry Context - The Insurance - Property and Casualty industry is currently in the top 37% of over 250 Zacks industries, suggesting that the industry outlook can significantly impact stock performance [5] - CCC Intelligent Solutions Holdings Inc. (CCCS), another company in the same industry, is expected to report quarterly earnings of $0.09 per share, with revenues projected at $237.28 million, reflecting a 7.3% increase from the year-ago quarter [5]