Assurant , Inc. (NYSE: NYSE:AIZ), a global provider of risk management solutions, has announced its third-quarter results for 2024. During the earnings call, which was webcasted, President and CEO Keith Demmings, along with CFO Keith Meier, discussed the company's financial performance.
The call was prefaced with a caution regarding forward-looking statements, emphasizing that actual results could differ due to various risks and uncertainties. The company referred to non-GAAP financial measures to evaluate its performance, with reconciliations to GAAP measures available in the release and on Assurant's website. Following the presentation, the call was opened for questions and answers.
Key Takeaways
- Assurant's third-quarter results were announced, with a detailed discussion led by President and CEO Keith Demmings and CFO Keith Meier.
- The company emphasized the forward-looking nature of statements made during the call, cautioning about potential discrepancies due to risks and uncertainties.
- Non-GAAP financial measures were used to assess Assurant's performance, with reconciliations provided to the GAAP equivalents.
- The earnings release, financial supplement, and a slide presentation were made available on Assurant's website.
- After the initial remarks, the call proceeded to a Q&A session.
Company Outlook
- Assurant's historical performance and current expectations were discussed, with an emphasis on forward-looking statements.
Bearish Highlights
- Risks and uncertainties were acknowledged as factors that could cause actual results to differ from current expectations.
Bullish Highlights
- The company's confidence in its performance evaluation was underscored by the use of non-GAAP financial measures.
Misses
- No specific financial misses were discussed during the call.
Q&A Highlights
- The Q&A session provided an opportunity for participants to inquire further about Assurant's third-quarter results and future expectations.
In summary, Assurant's third-quarter 2024 earnings call was a platform for the company's leadership to review the financial results and address investor queries. The company was cautious about forward-looking statements, reminding listeners of the inherent risks and uncertainties.
Assurant's reliance on non-GAAP financial measures was a key point, indicating a focus on specific metrics to gauge performance. The call concluded with a Q&A session, offering insights into the company's operations and outlook.
InvestingPro Insights
Assurant's third-quarter 2024 earnings call revealed a company that continues to demonstrate financial resilience and shareholder value. According to InvestingPro data, Assurant boasts a market capitalization of $10.79 billion, reflecting its significant presence in the risk management solutions sector. The company's P/E ratio of 13.79 suggests that it may be undervalued relative to its earnings, particularly when considering its PEG ratio of 0.33, which indicates an attractive valuation relative to its growth prospects.
InvestingPro Tips highlight Assurant's commitment to shareholder returns, noting that the company "has raised its dividend for 20 consecutive years." This consistent dividend growth, coupled with a current dividend yield of 1.4%, underscores Assurant's financial stability and shareholder-friendly policies. Moreover, the company is "trading at a low P/E ratio relative to near-term earnings growth," which aligns with the favorable PEG ratio and suggests potential upside for investors.
The company's recent performance has been particularly strong, with InvestingPro data showing a 21.7% price total return over the last three months. This aligns with the InvestingPro Tip indicating a "significant return over the last week" and "strong return over the last three months." Such momentum could be of interest to investors looking for companies with positive price trends.
It's worth noting that InvestingPro offers 11 additional tips for Assurant, providing a more comprehensive analysis for investors seeking deeper insights into the company's financial health and market position.
Full transcript - Assurant (AIZ) Q3 2024:
Operator: Welcome to Assurant's Third Quarter 2024 Conference Call and Webcast. [Operator Instructions] It is now my pleasure to turn the floor over to Sean Moshier, Vice President of Investor Relations. You may begin.
Sean Moshier: Thank you, operator, and good morning, everyone. We look-forward to discussing our third quarter 2024 results with you today. Joining me for Assurant's conference call are Keith Demmings, our President and Chief Executive Officer; and Keith Meier, our Chief Financial Officer. Yesterday, after the market closed, we issued a news release, announcing our results for the third quarter 2024. The release and corresponding financial supplement are available on assurant.com. Also, on our website is a slide presentation for our webcast participants. Some of the statements made today are forward-looking. Forward-looking statements are based upon our historical performance and current expectations and subject to risks, uncertainties, and other factors that may cause actual results to differ materially from those contemplated by those statements. Additional information regarding these factors can be found in the earnings release, presentation, and financial supplement on our website, as well as in our SEC reports. During today's call, we will refer to non-GAAP financial measures, which we believe are important in evaluating the company's performance. For more details on these measures, the most comparable GAAP measures and a reconciliation of the two, please refer to the news release and supporting materials. We'll start today's call with remarks before moving into Q&A. I will now
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.