What To Expect From Fidelis Insurance’s (FIHL) Q3 Earnings

Specialty insurance provider Fidelis Insurance (NYSE:FIHL) will be announcing earnings results this Wednesday after market hours. Here’s what investors should know.

Fidelis Insurance missed analysts’ revenue expectations by 8.9% last quarter, reporting revenues of $589.3 million, up 9.1% year on year. It was a satisfactory quarter for the company, with a beat of analysts’ EPS estimates but a significant miss of analysts’ revenue estimates.

Is Fidelis Insurance a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Fidelis Insurance’s revenue to grow 6.9% year on year to $733.7 million, slowing from the 27.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.20 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fidelis Insurance has missed Wall Street’s revenue estimates four times over the last two years.

Looking at Fidelis Insurance’s peers in the reinsurance segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Hamilton Insurance Group delivered year-on-year revenue growth of 30.2%, beating analysts’ expectations by 10.3%, and RenaissanceRe reported a revenue decline of 19.5%, topping estimates by 9.7%. Hamilton Insurance Group traded up 10.5% following the results while RenaissanceRe was also up 7%.

Read our full analysis of Hamilton Insurance Group’s results here and RenaissanceRe’s results here.

Investors in the reinsurance segment have had steady hands going into earnings, with share prices up 2% on average over the last month. Fidelis Insurance is up 3.3% during the same time and is heading into earnings with an average analyst price target of $20.50 (compared to the current share price of $19).

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