AXIS Capital(US:AXS) Zacks Investment Research·2024-05-02 02:01Core Insights - Axis Capital reported revenue of $1.43 billion for Q1 2024, reflecting a 5.1% increase year-over-year, but a -2.85% miss against the Zacks Consensus Estimate of $1.48 billion [1] - The company's EPS for the quarter was $2.57, up from $2.33 in the same quarter last year, surpassing the consensus estimate of $2.54 by +1.18% [1] Financial Metrics - Net loss and loss expense ratio stood at 57.9%, slightly above the average estimate of 57.1% from three analysts [2] - Combined Ratio was reported at 91.1%, compared to the average estimate of 90.1% from three analysts [2] - Acquisition Cost Ratio was 20.2%, higher than the two-analyst average estimate of 19.9% [2] - Net investment income reached $167.38 million, exceeding the average estimate of $165.65 million, marking a year-over-year increase of +25.1% [2] - Net premiums earned were $1.26 billion, slightly below the three-analyst average estimate of $1.30 billion, with a year-over-year change of +2.3% [2] - Other insurance-related income was reported at $8.34 million, significantly higher than the two-analyst average estimate of $4.09 million, representing a year-over-year change of +1345.4% [2] Stock Performance - Over the past month, shares of Axis Capital have returned -5.3%, compared to a -4.1% change in the Zacks S&P 500 composite [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]