Global reinsurance company Everest Group (NYSE: EG) missed Wall Street’s revenue expectations in Q1 CY2026, with sales falling 4.6% year on year to $4.07 billion. Its non-GAAP profit of $16.08 per share was 15% above analysts’ consensus estimates.
Is now the time to buy Everest Group? Find out by accessing our full research report, it’s free.
Everest Group (EG) Q1 CY2026 Highlights:
- Net Premiums Earned: $3.57 billion vs analyst estimates of $3.79 billion (7.2% year-on-year decline, 5.8% miss)
- Revenue: $4.07 billion vs analyst estimates of $4.31 billion (4.6% year-on-year decline, 5.5% miss)
- Combined Ratio: 91.2% vs analyst estimates of 93.3% (210 basis point beat)
- Adjusted EPS: $16.08 vs analyst estimates of $13.98 (15% beat)
- Book Value per Share: $383.75 vs analyst estimates of $392.77 (15.3% year-on-year growth, 2.3% miss)
- Market Capitalization: $15.58 billion
Company Overview
Rebranded from Everest Re in 2023 to reflect its evolution beyond just reinsurance, Everest Group (NYSE: EG) underwrites property and casualty reinsurance and insurance worldwide, serving insurance companies, corporations, and other clients across six continents.
Revenue Growth
Insurance companies generate revenue three ways. The first is the core insurance business itself, represented in the income statement as premiums earned. The second source is investment income from investing the “float” (premiums collected but not yet paid out as claims) in assets such as fixed-income assets and equities. The third is fees from policy administration, annuities, and other value-added services. Over the last five years, Everest Group grew its revenue at an impressive 10.8% compounded annual growth rate. Its growth beat the average insurance company and shows its offerings resonate with customers.
Long-term growth is the most important, but within financials, a half-decade historical view may miss recent interest rate changes and market returns. Everest Group’s recent performance shows its demand has slowed significantly as its annualized revenue growth of 5.9% over the last two years was well below its five-year trend. 
Note: Quarters not shown were determined to be outliers, impacted by outsized investment gains/losses that are not indicative of the recurring fundamentals of the business.
This quarter, Everest Group missed Wall Street’s estimates and reported a rather uninspiring 4.6% year-on-year revenue decline, generating $4.07 billion of revenue.
Net premiums earned made up 90.6% of the company’s total revenue during the last five years, meaning Everest Group lives and dies by its underwriting activities because non-insurance operations barely move the needle.
Our experience and research show the market cares primarily about an insurer’s net premiums earned growth as investment and fee income are considered more susceptible to market volatility and economic cycles.
ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all.
Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.
Book Value Per Share (BVPS)
Insurance companies are balance sheet businesses, collecting premiums upfront and paying out claims over time. The float – premiums collected but not yet paid out – are invested, creating an asset base supported by a liability structure. Book value captures this dynamic by measuring:
- Assets (investment portfolio, cash, reinsurance recoverables) - liabilities (claim reserves, debt, future policy benefits)
BVPS is essentially the residual value for shareholders.
We therefore consider BVPS very important to track for insurers and a metric that sheds light on business quality because it reflects long-term capital growth and is harder to manipulate than more commonly-used metrics like EPS.
Everest Group’s BVPS grew at a solid 9.7% annual clip over the last five years. The last two years show a similar trajectory as BVPS grew by 10.5% annually from $314.01 to $383.75 per share.
Over the next 12 months, Consensus estimates call for Everest Group’s BVPS to grow by 15.6% to $392.77, top-notch growth rate.
Key Takeaways from Everest Group’s Q1 Results
It was good to see Everest Group beat analysts’ EPS expectations this quarter. On the other hand, its revenue missed and its net premiums earned fell short of Wall Street’s estimates. Overall, this was a weaker quarter. The stock remained flat at $342.22 immediately following the results.
Everest Group underperformed this quarter, but does that create an opportunity to invest right now? What happened in the latest quarter matters, but not as much as longer-term business quality and valuation, when deciding whether to invest in this stock. We cover that in our actionable full research report which you can read here (it’s free).
