Earnings To Watch: Fidelis Insurance (FIHL) Reports Q1 Results Tomorrow

Specialty insurance provider Fidelis Insurance (NYSE:FIHL) will be announcing earnings results this Wednesday after the bell. Here’s what to look for.

Fidelis Insurance missed analysts’ revenue expectations last quarter, reporting revenues of $600.9 million, down 10.8% year on year. It was a slower quarter for the company, with a significant miss of analysts’ revenue and net premiums earned estimates.

Is Fidelis Insurance a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Fidelis Insurance’s revenue to decline 11.4% year on year, a reversal from the 26.6% increase it recorded in the same quarter last year.Fidelis Insurance Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Fidelis Insurance has missed Wall Street’s revenue estimates multiple times over the last two years.

Looking at Fidelis Insurance’s peers in the reinsurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hamilton Insurance Group’s revenues decreased 1.3% year on year, beating analysts’ expectations by 14.1%, and Reinsurance Group of America reported revenues up 24.3%, topping estimates by 3.1%. Hamilton Insurance Group traded down 3.6% following the results while Reinsurance Group of America was also down 1%.

Read our full analysis of Hamilton Insurance Group’s results here and Reinsurance Group of America’s results here.

Investors in the reinsurance segment have had steady hands going into earnings, with share prices flat over the last month. Fidelis Insurance is up 3.4% during the same time and is heading into earnings with an average analyst price target of $22.39 (compared to the current share price of $20.72).

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