QBE Insurance Group (ASX:QBE) Full Year 2023 Results
Main financial results
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Revenue: USD 25.6 billion (up 13% from 2022).
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Net profit: USD 1.31 billion (143% increase compared to FY2022).
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Profit margin: 5.1% (up from 2.4% in FY2022). The increase in margin was driven by an increase in revenue.
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EPS: USD 0.88 (up from USD 0.36 in FY2022).
QBE profitability indicators
All numbers shown in the chart above are for the trailing 12 month (TTM) period.
QBE Insurance Group's EPS falls below expectations
Sales were in line with analyst forecasts. Earnings per share (EPS) were 4.3% lower than analysts expected.
Looking ahead, revenues are expected to decline by an average of 5.7% over the next three years, compared to the Australian insurance industry's revenue forecast of a 1.3% decline.
performance of Australian insurance industry.
The company's stock price has fallen 2.5% from a week ago.
risk analysis
Before I summarize, I discovered the following: 1 warning sign for QBE Insurance Group What you need to know.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodologies, and articles are not intended to be financial advice. This is not a recommendation to buy or sell any stock, and does not take into account your objectives or financial situation. We aim to provide long-term, focused analysis based on fundamental data. Note that our analysis may not factor in the latest announcements or qualitative material from price-sensitive companies. Simply Wall St has no position in any stocks mentioned.
