QBE Insurance Group (ASX:QBE) Full Year 2023 Results
Key Financial Results
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Revenue: US$25.6b (up 13% from FY 2022).
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Net income: US$1.31b (up 143% from FY 2022).
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Profit margin: 5.1% (up from 2.4% in FY 2022). The increase in margin was driven by higher revenue.
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EPS: US$0.88 (up from US$0.36 in FY 2022).
QBE Profitability Indicators
All figures shown in the chart above are for the trailing 12 month (TTM) period
QBE Insurance Group EPS Misses Expectations
Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 4.3%.
Looking ahead, revenue is expected to fall by 5.7% p.a. on average during the next 3 years compared to a 1.3% decline forecast for the Insurance industry in Australia.
Performance of the Australian Insurance industry.
The company’s shares are down 2.5% from a week ago.
Risk Analysis
Before we wrap up, we’ve discovered 1 warning sign for QBE Insurance Group that you should be aware of.
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