Yahoo Finance Root First Quarter 2024 Earnings: Beats Expectations
Root (NASDAQ:ROOT) First Quarter 2024 Results
Key Financial Results
Revenue: US$254.9m (up 264% from 1Q 2023).
Net loss: US$6.20m (loss narrowed by 85% from 1Q 2023).
US$0.42 loss per share (improved from US$2.88 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Root Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 28%. Earnings per share (EPS) also surpassed analyst estimates by 83%.
Looking ahead, revenue is forecast to grow 25% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company's shares are up 16% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 3 warning signs for Root (1 is a bit concerning) you should be aware of.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
