- EPS: $37.18, beating estimates of $23.82
- Net Income: $915.4 million, exceeding estimates of $797.8 million
- Pretax Profit: $1.41 billion, surpassing estimates of $1.02 billion
- Gross Written Premiums: $8.92 billion, higher than estimates of $8.77 billion
- Net Premiums Written: $6.90 billion, topping estimates of $6.83 billion
- Book Value per Basic Share: $979.63, above estimates of $976.31
- Net Investment Gains: $241.6 million
- Insurance Revenue: $7.49 billion
- Operating Income Increase: Adjusted operating income rose to $1,119.4 million from $913.5 million in the second quarter of 2023
- Profit from Associates: Increased interest, dividends, and share of profit of associates contributed
- Premium Growth: Gross premiums written grew by 10.8% and net premiums written grew by 11.5%
- Impact of Gulf Insurance Acquisition: Added $815.9 million in gross premiums written and $523.8 million in net premiums written
- Investment Gains and Losses: Mark to market gains on common stocks of $377.4 million, partially offset by losses on bonds of $190.8 million
- Stock Recommendations: 5 buys, 0 holds, 1 sell
Fairfax Financial Holdings Ltd on Smartkarma
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Analysts on Smartkarma are closely watching Fairfax Financial Holdings Ltd, with Value Investors Club recently publishing a bullish report on the company. In their research titled “Fairfax Financial Holdings (FRFFF) – Wednesday, Feb 14, 2024,” the author highlights Fairfax as a property and casualty insurer with a robust underwriting history, making it an attractive investment option. The report refutes claims made by Muddy Waters and recommends buying Fairfax Financial shares, emphasizing that the true book value of Fairfax may be higher than its current market price. This positive sentiment underscores the potential promise seen in Fairfax Financial Holdings Ltd.
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By summarizing the research report from Value Investors Club on Smartkarma, the paragraph showcases the key insights provided by the analyst regarding Fairfax Financial Holdings Ltd in a simplified manner.
A look at Fairfax Financial Holdings Ltd Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 4 | |
| Dividend | 2 | |
| Growth | 4 | |
| Resilience | 3 | |
| Momentum | 5 | |
| OVERALL SMART SCORE | 3.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Based on the Smartkarma Smart Scores, Fairfax Financial Holdings Ltd has a promising long-term outlook. With high scores in value, growth, resilience, and momentum, the company is positioned well for future success. Fairfax is known for its focus on achieving a high rate of return on invested capital and building long-term shareholder value. By combining disciplined underwriting with strategic asset investment, Fairfax aims to deliver above-average returns in the long run.
As a holding company involved in property and casualty insurance, reinsurance, and investment management, Fairfax Financial Holdings Ltd is dedicated to maximizing shareholder value through prudent financial practices. With strong scores across key factors such as growth and momentum, Fairfax is likely to continue its trajectory of success and value creation over the long term.
Disclaimer: This article by Smartkarma is general in nature and 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. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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