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ProAssurance Corporation (PRA)
NYSE:PRA
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Earnings Data
Report Date
Feb 20, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.17Last Year’s EPS
-0.05Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2018
|% Change Since: -6.38%
|Next Earnings Date:Aug 07, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mixed picture with significant improvements in operating earnings, investment income, and pricing strategies, particularly in the Medical Professional Liability segment. However, challenges such as declining net written premiums, ongoing issues in the Workers' Compensation segment, and increased expenses due to compensation costs balance out the positives.Company Guidance
During the Q3 2024 earnings call for ProAssurance, several key metrics and strategic initiatives were discussed. The company reported operating earnings of $17.3 million or $0.34 per share, with a combined ratio of 99.5% in the Specialty P&C segment. Favorable prior accident year reserve development contributed 10.5 points, particularly from accident years 2018 and prior, and 2021 for the NORCAL book. The current accident year net loss ratio improved by nearly 1 point year-over-year, and the accident year loss and LAE ratio has improved by over 20 points since 2019. The Specialty P&C renewal premiums increased by 14% in the Standard business and 18% in the Specialty business, with retention of existing insureds at 84%. The Workers' Compensation segment's current accident year loss ratio was about 4 points below the full year 2023 ratio, reflecting a focus on operational discipline and higher audit premiums. Net investment income rose by $5 million or 14%, with new purchase yields at 5.2%. Book value per share increased to $24.07, with adjusted book value at $26.52. The company emphasized its commitment to disciplined underwriting, innovation, and profitability in both the Medical Professional Liability and Workers' Compensation segments.Strong Operating Earnings
The company reported operating earnings for the third quarter of $17.3 million or $0.34 per share, reflecting favorable outcomes in their Specialty P&C segment.
Improvement in Loss Ratio
The current accident year net loss ratio improved by almost 1 point from last year, and since 2019, it has improved more than 20 points, showing significant progress in strategic initiatives.
Medical Professional Liability Pricing Success
Since 2018, renewal premiums in MPL lines of business have increased by over 65% cumulatively, with recent renewal premium increases of 14% for Standard and 18% for Specialty business.
Investment Income Growth
Net investment income rose by $5 million or 14% during the quarter, driven by the advantageous rate environment.
Book Value Increase
Reported book value per share rose by over $2 since year-end to $24.07, driven by earnings per share of $0.71 and accumulated other comprehensive income.
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PRA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PRA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 07, 2024 | $16.31 | $16.99 | +4.17% |
| Aug 08, 2024 | $11.54 | $13.42 | +16.29% |
| May 06, 2024 | $13.82 | $15.16 | +9.70% |
| Feb 27, 2024 | $13.05 | $12.36 | -5.29% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does ProAssurance Corporation (PRA) report earnings?
ProAssurance Corporation (PRA) is schdueled to report earning on Feb 20, 2025, TBA Not Confirmed.
What is ProAssurance Corporation (PRA) earnings time?
ProAssurance Corporation (PRA) earnings time is at Feb 20, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PRA EPS forecast?
PRA EPS forecast for the fiscal quarter 2024 (Q4) is 0.17.
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