Brp Group Inc Cl A Down 11.12% To $19.58 After Earnings Beat

Wednesday, November 8, 2023 - Brp Group Inc Cl A (BRP) reported upside earnings and revenues today.

Analyst expectations for Brp Group Inc Cl A earnings per share (EPS) were at $0.27, with the company surpassing those estimates with a reported EPS of $0.29, leading to a positive surprise of $0.02 per share (7%). Brp Group Inc Cl A's earnings rose 61% year-over-year as the firm reported an EPS of $0.18 in its year-ago quarter. The positive annual growth shows the Financial Services company is performing well amid recent economic conditions.

Analyst projections for Brp Group Inc Cl A revenue came in at a consensus of $305.6 million. Third-Quarter revenues surpassed estimates for $306.3 million by $629 thousand (0%). The company achieved 18% growth year-over-year compared to the firm's revenue of $259.4 million from the year-ago quarter. The higher earnings growth relative to revenue signals Brp Group Inc Cl A has improved its profit margin.

The stock is down 11.12% to $19.58 after the report.

Brp Group Inc Cl A's earnings expanded faster than revenues, signaling widening profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Brp Group Inc Cl A a Bullish Sentiment Rank from InvestorsObserver.

Brp Group Inc Cl A has performed a little below average during the past few months. Before the report, Brp Group Inc Cl A received a Long-Term Technical Rank by InvestorsObserver of 33, putting it in the bottom half of stocks. The firm set a 52-week low on May 31, 2023 at $19.26 and set a 52-week high on January 13, 2023 at $32.12.

BRP Group Inc is a United States-based insurance distribution firm. Its products include commercial property and casualty, or P&C, insurance, employee benefits insurance and personal lines insurance. The company operates its business through four segments including Middle Market, Specialty, Mainstreet, and Medicare.