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Axis Capital Holdings Ltd  (AXS)
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EARNINGS REPORT by CSIMarket

Earnings helped by tax benefit


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A $9 million tax benefit, helped Axis Capital Holdings Ltd to post $0.06 eps in the first quarter 2017



Axis Capital Holdings Ltd reported declining eps on increasing revenue in the first quarter 2017, where Sales grew by 4.13 % to $1.01 billions in comparison to $968 millions on a year-over-year basis, while income fell sharply by -95.68 % to $0.06 per share, income per share was $1.39 in the same quarter a year ago.

In the previous quarter company realized Sales of $882 millions and bottom line of $0.03 per share.

Net income of $20 millions in the first quarter 2017 fell by -85.81 % from $140 millions in the corresponding period a year before.

The situation for Axis Capital Holdings Ltd would be even worse, if there wasn't $9 million tax benefit, to restrain the decline to just -85.81 % in the first quarter 2017. Axis Capital Holdings Ltd shifted it's focus on improving sales in the first quarter 2017, as a result net margin eased to 1.97%.


Axis Capital Holdings Ltd is expected to report next financial results on July 28, 2017.
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