Maiden Holdings Ltd. Earnings: Here’s Why Investors are Buying Shares Now
Maiden Holdings, Ltd. (NASDAQ:MHLD) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.3%.
Maiden Holdings, Ltd. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.14 in the quarter versus EPS of $0.24 in the year-earlier quarter.
Revenue: Rose 9.15% to $479.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Maiden Holdings, Ltd. reported adjusted EPS loss of $0.14 per share. By that measure, the company missed the mean analyst estimate of $-0.12. It beat the average revenue estimate of $477.4 million.
Quoting Management: Commenting on the Company’s earnings, Art Raschbaum, Chief Executive Officer of Maiden Holdings, said: “Notwithstanding the significant impact of Sandy, in the past year Maiden has grown premiums, enhanced its capital position with two long-term capital raises, improved operating efficiency and continued to develop new clients through its U.S., U.K. and Bermuda platforms. Delivering value to our shareholders and providing outstanding products and services for our clients remain the ultimate goals of Maiden’s lower volatility business model, as we support the non-catastrophe reinsurance needs of regional and specialty insurers. An improving pricing environment, efficient capital management and prudent investing will all contribute to the achievement of these ambitions in 2013.”
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