Employers Holdings (NYSE:EIG) Full Year 2024 Results

Key Financial Results

• Revenue: US$880.7m (up 3.5% from FY 2023).
• Net income: US$118.6m (flat on FY 2023).
• Profit margin: 14% (in line with FY 2023).
• EPS: US$4.73 (up from US$4.48 in FY 2023).

EIG Profitability Indicators

• Combined ratio: 97.9% (up from 95.0% in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Employers Holdings Meets Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) was also in line with analyst expectations.

In the last 12 months, the only revenue segment was Insurance Operations contributing US$880.7m. Notably, cost of sales worth US$733.9m amounted to 83% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$28.2m were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how EIG's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 2.4% p.a. on average during the next 2 years, compared to a 5.2% growth forecast for the Insurance industry in the US.

Performance of the American Insurance industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

You still need to take note of risks, for example - Employers Holdings has 2 warning signs (and 1 which is a bit concerning) we think you should know about.

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