Universal Insurance Holdings (UVE) Tops Q3 Earnings and Revenue Estimates

Core Insights - Universal Insurance Holdings (UVE) reported quarterly earnings of $1.36 per share, exceeding the Zacks Consensus Estimate of $1.1 per share, and a significant improvement from a loss of $0.73 per share a year ago [1] - The company achieved an earnings surprise of +23.64% and has surpassed consensus EPS estimates in all four quarters over the past year [2] - Revenues for the quarter reached $400.98 million, surpassing the Zacks Consensus Estimate by 9.45% and showing growth from $387.55 million in the same quarter last year [3] Earnings Performance - The earnings surprise of +23.64% indicates strong performance relative to expectations [2] - The company has consistently outperformed consensus revenue estimates over the last four quarters [3] Stock Performance - Universal Insurance shares have increased approximately 35.9% since the beginning of the year, significantly outperforming the S&P 500's gain of 13.9% [4] - The stock currently holds a Zacks Rank 2 (Buy), suggesting it is expected to outperform the market in the near future [7] Future Outlook - The current consensus EPS estimate for the upcoming quarter is $0.58 on revenues of $372.13 million, and for the current fiscal year, it is $4.34 on revenues of $1.53 billion [8] - The insurance industry, particularly the Property and Casualty sector, is currently ranked in the top 16% of Zacks industries, indicating a favorable outlook [9] Competitor Insights - Allstate (ALL), a competitor in the same industry, is expected to report quarterly earnings of $6.73 per share, reflecting a year-over-year increase of +72.1% [10] - Allstate's anticipated revenues are projected to be $17.35 billion, up 5.9% from the previous year [11]