Arch Capital Posts Q3 EPS of $3.00
ACGL sits 22% above its 52-week low of $82.445.
Summary
Arch Capital reported third-quarter EPS of $3.00, per Dow Jones Newswires, matching the $3.00 per share the company earned in Q2, when net income was $1.0 billion on an 83.5% combined ratio, so the headline points to flat sequential earnings rather than a step change. The Q3 combined ratio came in at 82.5%, and net income fell as catastrophe losses rose, while sales declined in the third quarter. The prior quarter's net income was already down from $1.2 billion a year earlier as underwriting weakened, making the underwriting result and any reserve development the numbers that matter here. With the Q3 combined ratio and the sales decline now reported, the figures show whether the underwriting softness seen in Q2 continued.
At the time of this announcement, ACGL was trading at $100.34 on NASDAQ in the Finance sector, with a market capitalization of approximately $34.2B. The 52-week trading range was $82.45 to $107.09. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.