Why Everest Group Stock Was Wilting This Week
Everest Group (NYSE: EG) might share a name with the highest mountain above sea level on our Earth, but its stock hasn't been ascending of late. The insurer's share price was falling by over 11% week-to-date as of Friday before market open, according to data compiled by S&P Global Market Intelligence. The main reason why was third-quarter earnings that didn't rise to expectations.
Total revenue for that period was $4.32 billion for Everest, a figure that was only marginally higher than that of the same quarter of 2024. Operating income, i.e. that not in accordance with generally accepted accounting practices (GAAP) or adjusted, was down significantly. It tumbled by almost 50% to $316 million ($7.54 per share).
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Source Fool.com
