Intact Financial (TSE:IFC) Second Quarter 2024 Results

Key Financial Results

• Revenue: CA$6.13b (up 11% from 2Q 2023).

• Net income: CA$750.0m (up 228% from 2Q 2023).

• Profit margin: 12% (up from 4.1% in 2Q 2023). The increase in margin was driven by higher revenue.

• EPS: CA$4.05 (up from CA$1.31 in 2Q 2023).

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

Intact Financial EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 4.9%. Earnings per share (EPS) exceeded analyst estimates by 42%.

Looking ahead, revenue is expected to decline by 9.1% p.a. on average during the next 3 years, while revenues in the Insurance industry in Canada are expected to grow by 7.7%.

Performance of the Canadian Insurance industry.

The company's shares are up 4.2% from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 1 warning sign for Intact Financial that you should be aware of.

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