Arch Capital Group Ltd (ACGL) has announced its second-quarter earnings, showcasing a significant increase from the previous year and surpassing Wall Street expectations.
The company reported earnings of $1.259 billion, or $3.30 per share, compared to $661 million, or $1.75 per share, in the same quarter last year.
When excluding special items, Arch Capital Group Ltd posted adjusted earnings of $2.57 per share for the period.
Analysts, on average, had predicted the company would earn $2.21 per share, according to data compiled by Thomson Reuters. It is worth noting that analysts' estimates typically exclude special items.
A brief overview of Arch Capital Group Ltd's GAAP earnings for Q2 is as follows:
- Earnings: $1.259 billion vs. $661 million last year
- EPS: $3.30 vs. $1.75 last year
