NYSE$AIZ
Assurant Inc · Q3 2021 earnings
Q3 2021 earnings · · Investor relations
Briefing
Assurant's Q3 2021 financial results were reported, showing double-digit earnings growth driven by the expansion of Global Automotive and Connected Living businesses.
Assurant reported strong Q3 2021 results, with net income increasing by 75% and net operating income, excluding reportable catastrophes, up by 4%. The company reaffirmed its 2021 outlook, expecting EPS growth, excluding catastrophes, of 10 to 14 percent.
- Net income increased 75 percent versus prior year period, while net income per diluted share increased 87 percent
- Net operating income, excluding reportable catastrophes, up 4 percent to $162.1 million
- Net operating income, excluding reportable catastrophes, per diluted share, up 5 percent to $2.73
- Adjusted EBITDA, excluding reportable catastrophes, up 4 percent to $262.3 million
Headline financials
Revenue & EPS history
Assurant · Revenue · Quarterly
$2.64B
Revenue by segment
Assurant · $2.26B total across 2 segments · Q2 2020
- Global Lifestyle$1.77B—78.3%
- Global Housing$489M—21.7%
Forward guidance
The company expects net operating income, excluding reportable catastrophes, per diluted share to increase approximately 10 to 14 percent from $9.88 in 2020.
Tailwinds
- Growth in net operating income, excluding reportable catastrophes, is expected to be mainly driven by high single-digit growth in Global Lifestyle, with expansion across all lines of business, as well as a lower Corporate and Other loss.
- Adjusted EBITDA, excluding reportable catastrophes, is expected to grow at a similar rate to net operating income, excluding reportable catastrophes, with double-digit Adjusted EBITDA growth in Global Lifestyle.
- Capital to be deployed to support business growth
- Capital to be deployed to fund investments
- Capital to be deployed to return capital to shareholders in the form of share repurchases and dividends, subject to Board approval and market conditions.
Headwinds
- Global Housing net operating income, excluding reportable catastrophes, is expected to be roughly flat versus the prior year, as underlying growth is offset by lower real estate owned volumes and an increase in non-catastrophe losses.
- Net operating income, excluding reportable catastrophes, in the fourth quarter is expected to reflect increased investments to support long-term growth, including mobile service and repair programs
- Net operating income, excluding reportable catastrophes, in the fourth quarter is expected to reflect a tax rate in Global Lifestyle in-line with longer-term trends
- Net operating income, excluding reportable catastrophes, in the fourth quarter is expected to reflect increased Corporate and Other expenses due to timing of spending.
- Business segment dividends to approximate segment net operating income, including reportable catastrophes. This is subject to the growth of the businesses, rating agency and regulatory capital requirements, investment portfolio performance and a potential increase in U.S. corporate tax rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q3 2021
+0.8%
Avg return
Earnings day
+1.7%
Avg return
5 days after
+2.1%
Avg return
30 days after
50%
36 / 72 earnings
Positive
+14.0%
Q2 2020
Best reaction
-13.1%
Q4 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.9% | +1.2% | +8.5% | |
| Q4 2025 | -8.6% | -8.0% | -7.6% | |
| Q3 2025 | +1.7% | +5.4% | +3.9% | |
| Q2 2025 | +11.3% | +8.9% | +11.8% | |
| Q1 2025 | -0.4% | +2.1% | +2.9% | |
| Q4 2024 | -2.6% | -4.6% | -0.8% | |
| Q3 2024 | +7.9% | +9.5% | +17.9% | |
| Q1 2024 | -2.2% | -2.2% | -4.4% | |
| Q4 2023 | +4.1% | +3.6% | +6.2% | |
| Q3 2023 | +13.7% | +11.7% | +14.7% | |
| Q2 2023 | +6.1% | +5.4% | +3.6% | |
| Q1 2023 | +7.3% | +6.4% | -1.7% | |
| Q4 2022 | -1.3% | +0.2% | -10.0% | |
| Q3 2022 | -3.6% | -10.8% | -5.8% | |
| Q2 2022 | -11.7% | -11.1% | -8.4% | |
| Q1 2022 | +3.3% | +4.3% | -0.5% | |
| Q4 2021 | +9.0% | +6.0% | +10.9% | |
| Q3 2021 | +2.5% | +0.7% | -5.3% | |
| Q2 2021 | -1.0% | +1.8% | +8.5% | |
| Q1 2021 | +1.0% | +1.9% | +2.8% | |
| Q4 2020 | -5.2% | +1.9% | +8.6% | |
| Q3 2020 | +1.6% | +2.2% | +5.8% | |
| Q2 2020 | +14.0% | +13.9% | +13.7% | |
| Q1 2020 | -2.1% | -1.2% | +10.4% | |
| Q4 2019 | -0.3% | +3.9% | -29.5% | |
| Q3 2019 | +0.7% | +2.7% | +3.0% | |
| Q2 2019 | +9.0% | +10.8% | +14.5% | |
| Q1 2019 | +1.7% | +2.8% | +10.0% | |
| Q4 2018 | +0.4% | +0.7% | +0.7% | |
| Q3 2018 | +5.6% | +8.1% | -4.9% | |
| Q2 2018 | +1.6% | +0.2% | -2.5% | |
| Q1 2018 | -1.9% | -3.5% | +4.9% | |
| Q4 2017 | -0.5% | -0.2% | +2.6% | |
| Q3 2017 | -1.0% | -2.1% | -1.4% | |
| Q2 2017 | -1.4% | -0.3% | -10.1% | |
| Q1 2017 | +7.5% | +6.9% | +3.0% | |
| Q4 2016 | -7.1% | -4.6% | +2.6% | |
| Q3 2016 | -1.2% | -3.5% | +4.0% | |
| Q2 2016 | -4.4% | -5.2% | +0.0% | |
| Q1 2016 | +8.0% | — | — | |
| Q4 2015 | -13.1% | — | — | |
| Q3 2015 | -0.8% | — | — | |
| Q2 2015 | +2.0% | — | — | |
| Q1 2015 | +3.3% | — | — | |
| Q4 2014 | -7.3% | — | — | |
| Q3 2014 | +1.4% | — | — | |
| Q2 2014 | +0.0% | — | — | |
| Q1 2014 | +1.2% | — | — | |
| Q4 2013 | -0.7% | — | — | |
| Q3 2013 | -3.6% | — | — | |
| Q2 2013 | -0.8% | — | — | |
| Q1 2013 | -1.4% | — | — | |
| Q4 2012 | -0.5% | — | — | |
| Q3 2012 | -1.6% | — | — | |
| Q2 2012 | +5.2% | — | — | |
| Q1 2012 | -0.4% | — | — | |
| Q4 2011 | -1.4% | — | — | |
| Q3 2011 | +4.2% | — | — | |
| Q2 2011 | -2.2% | — | — | |
| Q1 2011 | -1.8% | — | — | |
| Q4 2010 | -2.9% | — | — | |
| Q3 2010 | +1.9% | — | — | |
| Q2 2010 | +1.2% | — | — | |
| Q1 2009 | -0.9% | — | — | |
| Q1 2010 | +1.6% | — | — | |
| Q4 2007 | -1.4% | — | — | |
| Q4 2009 | -1.4% | — | — | |
| Q3 2009 | +2.1% | — | — | |
| Q3 2008 | +2.1% | — | — | |
| Q2 2009 | +4.2% | — | — | |
| Q2 2008 | +4.2% | — | — | |
| Q4 2008 | +4.2% | — | — |
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