W.R. Berkley Corporation (WRB) said after close Thursday that it earned $1.16 per share in quarter four 2022. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $3 billion, beating estimates by $114 million.
In the same quarter a year ago, the company earned $1.53 per share on revenue of $2.6 billion.
The stock is down 2.44% to $69.50 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
The average recommendation from Wall Street analysts was a Buy which may get revised based on this new data.
Trading in the five days leading up to the report earned W.R. Berkley Corporation a Neutral Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 80. Meanwhile, the average Wall Street analyst rated the stock a Buy.
W.R. Berkley is an insurance holding company with a host of subsidiaries that primarily write commercial casualty insurance. The firm specializes in niche products that include various excess and surplus lines, workers' compensation insurance, self-insurance consulting, reinsurance, and regional commercial lines for small and midsize businesses.
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W.R. Berkley Corporation Down 2.44% To $69.50 After Earnings Beat
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