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XL Group plc (NYSE:XL) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 0.07%.
XL Group plc Earnings Cheat Sheet
Results: Net income increased to $81.4 million (27 cents per diluted share) in the quarter versus a net loss of $515.54 million in the year-earlier quarter.
Revenue: Rose 10.66% to $1.91 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: XL Group plc reported adjusted net income of 27 cents per share. It beat the average revenue estimate of $1.45 billion.
Quoting Management:“We are pleased to announce fourth quarter and full year results that clearly demonstrate XL’s progress, particularly in our delivery of solid earnings and growth in book value. Despite the meaningful impact of Storm Sandy, the broad and painful effects of which we are all aware, XL produced both net and operating income in the quarter and once again demonstrated our dedication to disciplined underwriting and enterprise risk management. The full year results also illustrated the steady improvement of our Insurance segment and the continuing solid performance of our Reinsurance segment. We are committed to maintaining this progress.”
Key Stats (on next page)…
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