earnings
confidence high
sentiment positive
materiality 0.70
Assurant Q1 adjusted EPS $3.75 beats expectations; reaffirms 2022 EBITDA and EPS ex-cat growth targets
ASSURANT, INC.
2022-Q1 EPS reported
$2.59
revenue$2,482,700,000
- GAAP net income $145.5M ($2.59 diluted EPS); adjusted EBITDA $299M (+16% YoY).
- Adjusted EPS $3.75 (up 39% YoY); adjusted EPS ex-catastrophes $3.80 (up 17% YoY).
- Global Lifestyle led by double-digit growth in Connected Living and Global Automotive; Global Housing weaker.
- Reaffirms 2022 outlook: 8-10% growth in adjusted EBITDA ex-cat and 16-20% growth in adjusted EPS ex-cat.
- Share repurchases and dividends totaled $280M in Q1; holding company liquidity $738M.