Everest Group Reports $593 Million Loss in Q4, Misses Expectations

HAMILTON, Bermuda – Everest Group, Ltd. (EG) announced a $593 million loss for Q4. The loss amounted to $13.96 per share. Excluding non-recurring gains, the adjusted loss was $18.39 per share.

These results fell short of Wall Street's projections. Analysts surveyed by Zacks Investment Research had estimated a loss of $16.65 per share. However, EG surpassed revenue expectations, reporting $4.64 billion for the quarter. Analysts had forecasted $4.44 billion.

For the full year, EG reported a profit of $1.37 billion ($31.78 per share) and revenue of $17.28 billion.