From Nasdaq, Inc.:

The Hartford Financial Services Group, Inc. will release fourth-quarter 2023 results on Feb 1, 2024. Estimates for the quarter indicate an expected earnings-per-share improvement of 3.5% and 7.4% revenue growth from the prior-year quarter. The company has a history of beating earnings estimates, showing an average surprise of 10.8%. Our quantitative model predicts an earnings beat for HIG this time around.

In the third quarter of 2023, HIG saw adjusted operating earnings of $2.29 per share, exceeding the Zacks Consensus Estimate by 17.4%. The quarter was propelled by the Commercial Lines and Group Benefits businesses, but hindered by higher expenses and poor performance in the Hartford Funds segment.

For the to-be-reported quarter, Hartford Financial’s revenues are expected to grow across Commercial Lines, Personal Lines and Group Benefits businesses. However, underwriting results may be impacted by continued incidence of catastrophe losses. Increased returns from the fixed-income portfolio and higher interest rates are expected to benefit investments, while escalating benefits, losses and expenses may negatively impact the bottom line.

Other companies in the financial sector expected to beat earnings according to our model are Coinbase Global, Inc., Everest Group, Ltd., and Brookfield Asset Management Ltd. These companies have a strong combination of elements to beat earnings this time around.



Read more: Is a Beat in Store for Hartford Financial (HIG) in Q4 Earnings?