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W. R. Berkley Set to Report Third-Quarter Results as Revenue Growth Slows

MixedMedium impact
WRB$75.42 1.96%

Property casualty insurer W. R. Berkley Corporation (WRB) is scheduled to report its third-quarter financial results on Monday after market hours. In the prior quarter, the company generated revenue of $3.72 billion, up 1.2% year over year. While second-quarter earnings per share exceeded expectations, revenue and book value per share fell short.

For the third quarter, Wall Street projects revenue to grow 1.8% year over year, marking a slowdown from the 10.8% increase recorded in the same period last year. Analysts covering the company have largely reconfirmed their estimates over the past 30 days, even though the insurer has missed revenue forecasts multiple times over the last two years. Peer results in the sector have been varied, with Travelers exceeding revenue expectations while Progressive missed estimates and dropped 4.1%.

Heading into the earnings release, W. R. Berkley shares have gained 7% over the past month, outperforming the broader insurance segment, which remained flat. The stock was recently trading up 1.96% at $75.42, standing above the average analyst price target of $69.06. Investors will be watching whether top-line expansion meets forecasts despite recent quarterly revenue misses.

Key points

  • W. R. Berkley Corporation will release its Q3 financial results on Monday after market hours.
  • Wall Street expects third-quarter revenue growth of 1.8% year over year, down from 10.8% in the prior-year period.
  • The company missed revenue expectations in Q2 despite beating earnings per share estimates.
  • Shares have gained 7% over the past month, trading at $75.42 against an average analyst price target of $69.06.

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Questions and answers

When is W. R. Berkley reporting Q3 earnings?

W. R. Berkley Corporation will report its third-quarter financial results on Monday after market hours.

What is the revenue growth forecast for W. R. Berkley?

Wall Street expects third-quarter revenue to increase 1.8% year over year, compared to 10.8% growth in the same quarter last year.

What is the analyst target price for W. R. Berkley stock?

Analysts have an average price target of $69.06 for W. R. Berkley Corporation shares.