Root, Inc. came out with a quarterly loss of $4.13 per share versus the Zacks Consensus Estimate of a loss of $4.29. This compares to loss of $7.91 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 3.73%. A quarter ago, it was expected that this company would post a loss of $6.01 per share when it actually produced a loss of $4.54, delivering a surprise of 24.46%.
Over the last four quarters, the company has surpassed consensus EPS estimates four times.
Root, Inc. , which belongs to the Zacks Insurance – Property and Casualty industry, posted revenues of $71.3 million for the quarter ended December 2022, missing the Zacks Consensus Estimate by 0.28%. This compares to year-ago revenues of $93.2 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Root, Inc. Shares have added about 32.1% since the beginning of the year versus the S&P 500’s gain of 4.1%.