Employers Holdings is a company that sells insurance. They had good results in the second quarter of this year, which means they made more money than people thought they would. But their stock price went down instead of up. This is because even though they made more money, they also spent more money, so their profit did not go up as much as people would have liked. That's why the stock price went down. Read from source...
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### News:
#### Employer Holdings Declines Despite Beating Q2 Earnings Estimates
Shares of Employers Holdings, Inc. (EIG) have declined 5.8% since it reported second-quarter 2024 results on July 31, after the closing bell. The better-than-expected earnings were aided by growth in premiums written, policies in force, and higher yields on fixed maturity securities. However, the positives were partially offset by increased overall expenses. EIG reported second-quarter adjusted earnings per share of $1.10, which surpassed the Zacks Consensus Estimate by 1.9%. However, the bottom line fell 6% year over year. Total revenues grew 0.8% year over year to $217 million. But the top line missed the consensus mark by 3%.
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### AI:
Earnings reaction: EIG reported better-than-expected Q2 earnings, boosted by growth in premiums written, policies in force and higher yields on fixed maturity securities, despite missing revenue estimates.
Shares of Employers Holdings, Inc. (EIG) have declined 5.8% since it reported second-quarter 2024 results on Jul 31, after the closing bell. The better-than-expected earnings were aided by growth in premiums written, policies in force and higher yields on fixed maturity securities. However, the positives were partially offset by increased overall expenses. EIG reported second-quarter adjusted earnings per share of $1.10, which surpassed the Zacks Consensus Estimate by 1.9%. However, the bottom line fell 6% year over year. Total revenues grew 0.8% year over year to $217 million. But the top line missed the consensus mark by 3%.
according to Benzinga, shares of Employers Holdings, Inc. (EIG) have dropped by 5.8% since it released second-quarter 2024 financial results on July 31, post-market close. The financial results exceeded market expectations, backed by growth in premiums written, higher yields on fixed maturity securities, and increased policies in force. However, the growth was partially impeded by higher overall expenses. The reported Q2 adjusted EPS of $1.10 outperformed the Zacks consensus estimate by 1.9%, though it represented a 6% YoY decrease. The company's total revenues increased by 0.8% YoY to $217 million, but it missed the consensus mark by 3%. Gross premiums written of $207.9 million rose by 5% YoY, while net premiums written of $206.1 million also saw a 5% YoY increase.