The Country Caller discusses earnings whispers for Everest Re Group and Corelogic ahead of their third quarter announcements
After the market closes on Monday, October 24, the Street will be looking forward to the financial results of Everest Re Group Ltd (NYSE:RE) and Corelogic Inc (NYSE:CLGX). The two companies are expected to provide results for their respective third quarters of fiscal year 2016 (3QFY16). Historically, both companies have outperformed the Street, both on top and bottom line. Given this performance, Estimize.com expects them to beat the Street atleast on their top line.
Everest Re Group
For the third quarter, Everest Re Group is anticipated by the Street to announce earnings of $4.56 per share. In the previous quarter, it published $3.17 in earnings per share (EPS), implying 43.85% sequential beat for the Street. The company is also expected to outperform $2 EPS, reported in 3QFY15, by a healthy margin of 128% year-over-year (YoY).
The Bermuda-based company reported $1.43 billion revenue in previous quarter. The Street expects it to announce revenue in-line with 2Q this season. Estimize.com predicts a slight beat over Street estimate, with its estimate of $1.44 billion. The company reported $1.36 billion net sales in 3QFY15, indicating that Street anticipates a top line beat by 5.22% YoY.
According to our research, Corelogic is projected by the Street to fall in line with its bottom line performance, exhibited in the preceding quarter. It reported 65 cents EPS for 2QFY16. If it does, the $3.39 billion company would observe EPS growth of 20.37% YoY, as it stated 54 cents EPS for the same period last year.
Our research also shows that Street analysts have provided the California-based with $503.83 million top line estimate. Estimize.com looks forward to a top line beat this season, as it expects $505.9 million in revenue. The company published $500 million net sales in 2Q, thus the consensus expects the revenue to be up slightly, sequentially. Street predicts Corelogic to post 30.39% YoY increase over $386.4 million revenue, announced for the third quarter of FY15.