Assurant (AIZ) Increases Full-Year Outlook, Delivers Double-Digit Earnings and EPS Growth Year-to-Date
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Assurant (AIZ) raised its full-year outlook after reporting third-quarter GAAP net income of $275.2 million, or $5.49 per diluted share, up 4% and 6% respectively from a year earlier, alongside adjusted EBITDA of $464.4 million, up 8%. For the first nine months, GAAP net income rose 31% to $847.9 million and adjusted EBITDA climbed 26% to $1,385.1 million, while adjusted EBITDA excluding reportable catastrophes increased 12% to $1,441.4 million. Adjusted earnings per diluted share reached $6.1 for the quarter. The double-digit year-to-date earnings and EPS growth, combined with the raised guidance, signal stronger underlying profitability in the company's specialty insurance businesses. Investors will watch whether the improved momentum carries into the fourth quarter and how catastrophe losses affect results excluding reportable events.
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Assurant, Inc., Assurant (AIZ), NYSE: AIZ
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