Insurance holding company Globe Life (NYSE:GL) will be reporting results this Wednesday afternoon. Here’s what to expect.
Globe Life met analysts’ revenue expectations last quarter, reporting revenues of $1.59 billion, up 6.1% year on year. It was a softer quarter for the company, with a significant miss of analysts’ book value per share estimates and a significant miss of analysts’ EPS estimates.
Is Globe Life a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Globe Life’s revenue to grow 6.4% year on year, improving from the 4.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings.
Looking at Globe Life’s peers in the insurance segment, some have already reported their Q3 results, giving us a hint as to what we can expect. RLI delivered year-on-year revenue growth of 5.1%, meeting analysts’ expectations, and Travelers reported flat revenue, topping estimates by 0.7%. Travelers’s stock price was unchanged following the results.
Read our full analysis of RLI’s results here and Travelers’s results here.
Investors in the insurance segment have had steady hands going into earnings, with share prices up 1.1% on average over the last month. Globe Life is down 2.4% during the same time and is heading into earnings with an average analyst price target of $193.18 (compared to the current share price of $168.03).
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