Analyst Consensus ?
ConsensusHold22 ratings
Bullish836.4%
Neutral1463.6%
Bearish00.0%
Everest Group, Ltd. · EG · FY2026 Q2 · Calendar Q3 2026
Everest Group: Strong Q2 underwriting, new reserve questions emerge
Everest Group's Q2 supports a constructive operating thesis: underwriting discipline, capital generation and third-party capacity are supporting profitability and growth. The counterweight is that reserve additions, casualty exposure, catastrophe risk and softer property pricing make the durability of those results the key issue to monitor.
Reported After market closeNYSEFinancial Services
$14.68B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$14.85
Consensus $14.52
EPS surprise
+2.3%
Reported versus consensus
Reported revenue
$3.96B
Consensus $3.99B
Revenue surprise
-0.8%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-4.7%
Event window
SPY move
+1.7%
Same window
Abnormal move
-6.4%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+0.6%
Up to 20 sessions
EGSPY benchmark
Ask FN2 about EG FY2026 Q2
Transcript, numbers and history already loaded
Why did EG fall 4.7% after beating EPS estimates in FY2026 Q2?What changed in EG's guidance and outlook in FY2026 Q2?Give me the bull and bear case for EG after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Relative to the supplied prior-quarter analysis, Everest launched the Annapurna Re casualty and specialty sidecar, introduced reporting that separates core businesses from legacy operations, and disclosed a $55 million Baltimore Bridge reserve increase plus approximately $200 million of additional North America casualty reserves. The capital-return commitment remained in place, while legacy runoff continued to be positioned as a source of future capital.
Guidance delta
No formal guidance was provided. Management plans to maintain share repurchases above $300 million per quarter and scale Annapurna Re to cede $200 million of premium each quarter.
Key takeaways
- Operating income was $585 million and ROE was 14.9%, according to the supplied analysis.
- Underwriting discipline held the combined ratio near 90% despite a 15–20% decline in property pricing.
- Share repurchases totaled $395 million, with a $300 million quarterly floor.
- Annapurna Re adds third-party capacity, while legacy retail runoff is expected to free more than $1 billion of capital.
Management priorities
- Maintain underwriting discipline and share repurchases above the $300 million quarterly floor.
- Scale Annapurna Re and use Mount Logan and other third-party capital platforms.
- Pursue specialty-line and international-market growth.
- Implement core-business reporting and release capital from legacy runoff.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$370.96Previous close
$332Low
$393.95Average
$485High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| TD Cowen | Hold | Hold | Maintain | Aug 19, 2026 |
| UBS | Neutral | Neutral | Maintain | Aug 3, 2026 |
| Wells Fargo | Equal Weight | Equal Weight | Maintain | Jul 31, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Jul 31, 2026 |
| Citigroup | Neutral | Neutral | Maintain | Jul 31, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Jul 30, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 30, 2026 |
| Cantor Fitzgerald | Neutral | Neutral | Maintain | Jul 9, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jul 8, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Jul 6, 2026 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 14, 2026 |
| B of A Securities | Buy | Buy | Maintain | Apr 14, 2026 |
| Wolfe Research | Peer Perform | Underperform | Upgrade | Oct 29, 2025 |
| Raymond James | Outperform | Strong Buy | Downgrade | Sep 22, 2025 |
| Jefferies | Buy | Hold | Upgrade | Apr 11, 2025 |
| Deutsche Bank | Buy | Hold | Upgrade | Mar 28, 2021 |
| Credit Suisse | Neutral | Neutral | Maintain | Nov 9, 2020 |
| CFRA | Hold | Hold | Maintain | Feb 11, 2020 |
| Goldman Sachs | Neutral | Sell | Upgrade | Nov 14, 2016 |
| Sidoti & Co. | Buy | Neutral | Upgrade | May 22, 2013 |
| Macquarie | Neutral | Outperform | Downgrade | Apr 14, 2013 |
| JP Morgan | Overweight | Neutral | Upgrade | Dec 19, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $370.96. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| RBC Capital | Analyst unavailable | $455 | $369.42 | +22.7% | Sep 22, 2026 |
| Rosenblatt Securities | Analyst unavailable | $455 | $369.42 | +22.7% | Sep 22, 2026 |
| UBS | Brian Meredith | $395 | $377.12 | +6.5% | Aug 3, 2026 |
| Mizuho Securities | Yaron Kinar | $416 | $375.36 | +12.1% | Jul 31, 2026 |
| Evercore ISI | Analyst unavailable | $377 | $377.19 | +1.6% | Jul 30, 2026 |
| Atlantic Equities | Analyst unavailable | $484 | $364.88 | +30.5% | Jul 15, 2026 |
| Evercore ISI | Analyst unavailable | $375 | $371.62 | +1.1% | Jul 10, 2026 |
| Cantor Fitzgerald | Ryan Tunis | $390 | $371.29 | +5.1% | Jul 9, 2026 |
| Mizuho Securities | Yaron Kinar | $418 | $371.29 | +12.7% | Jul 9, 2026 |
| Barclays | Analyst unavailable | $420 | $372.93 | +13.2% | Jul 7, 2026 |
| Morgan Stanley | Analyst unavailable | $360 | $371.35 | -3.0% | Jul 6, 2026 |
| UBS | Analyst unavailable | $355 | $358.42 | -4.3% | May 21, 2026 |
| BMO Capital | Michael Zaremski | $376 | $347.97 | +1.4% | May 14, 2026 |
| Morgan Stanley | Bob Huang | $340 | $351.54 | -8.3% | May 7, 2026 |
| UBS | Analyst unavailable | $374 | $351.26 | +0.8% | May 4, 2026 |
| Mizuho Securities | Analyst unavailable | $365 | $333.52 | -1.6% | Apr 13, 2026 |
| Mizuho Securities | Yaron Kinar | $360 | $330.76 | -3.0% | Feb 11, 2026 |
| Mizuho Securities | Analyst unavailable | $358 | $319.92 | -3.5% | Jan 14, 2026 |
| Cantor Fitzgerald | Ryan Tunis | $344 | $319.92 | -7.3% | Jan 14, 2026 |
| Wells Fargo | Elyse Greenspan | $332 | $328.38 | -10.5% | Jan 13, 2026 |
| UBS | Brian Meredith | $345 | $329.1 | -7.0% | Jan 12, 2026 |
| Barclays | Analyst unavailable | $377 | $331.43 | +1.6% | Jan 8, 2026 |
| Evercore ISI | Analyst unavailable | $365 | $330.88 | -1.6% | Jan 7, 2026 |
| Mizuho Securities | Analyst unavailable | $359 | $328.56 | -3.2% | Dec 15, 2025 |
| Raymond James | Gregory Peters | $350 | $314.52 | -5.7% | Nov 3, 2025 |
| Barclays | Analyst unavailable | $365 | $314.7 | -1.6% | Oct 31, 2025 |
| Barclays | Analyst unavailable | $425 | $343.98 | +14.6% | Oct 28, 2025 |
| Barclays | Alex Scott | $430 | $364.86 | +15.9% | Oct 8, 2025 |
| Evercore ISI | Analyst unavailable | $384 | $353.13 | +3.5% | Oct 1, 2025 |
| Raymond James | Gregory Peters | $375 | $335.38 | +1.1% | Sep 22, 2025 |
| Wells Fargo | Elyse Greenspan | $371 | $326.04 | +0.0% | Aug 4, 2025 |
| Wells Fargo | Elyse Greenspan | $362 | $340.45 | -2.4% | Jul 10, 2025 |
| Barclays | Alex Scott | $470 | $341.72 | +26.7% | Feb 4, 2025 |
| BMO Capital | Michael Zaremski | $453 | $353.52 | +22.1% | Jan 10, 2025 |
| BMO Capital | Michael Zaremski | $372 | $368.43 | +0.3% | Nov 14, 2024 |
| Bank of America Securities | Joshua Shanker | $485 | $388.89 | +30.7% | Oct 10, 2024 |
| Barclays | Alex Scott | $527 | $392.5 | +42.1% | Sep 4, 2024 |
| BMO Capital | Michael Zaremski | $403 | $360.63 | +8.6% | Aug 7, 2024 |
| Raymond James | Analyst unavailable | $385 | $356.33 | +3.8% | Feb 2, 2023 |
| Wells Fargo | Analyst unavailable | $365 | $332.95 | -1.6% | Nov 29, 2022 |
| Morgan Stanley | Analyst unavailable | $345 | $325.32 | -7.0% | Nov 22, 2022 |
| Jefferies | Analyst unavailable | $344 | $280.12 | -7.3% | Jul 12, 2022 |
Track every rating change on EG the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationEverest Group, Ltd., together with subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally. It operates in two segment, Insurance and Reinsurance. The company writes property and casualty reinsurance; treaty and facultative reinsurance products; and specialty lines of business through reinsurance brokers, as well as directly with ceding companies; and writes property and casualty insurance directly, as well as through brokers, surplus lines, and general agents. It provides reinsurance products comprising mortgage, catastrophe, marine, aviation, engineering, professional line, credit and surety, motor, agriculture/crop, and political violence reinsurance products. In addition, the company offers commercial property and casualty insurance products through wholesale and retail brokers, surplus lines brokers, and program administrators. The company was formerly known as Everest Re Group, Ltd. and changed its name to Everest Group, Ltd. in July 2023.Everest Group, Ltd., was founded in 1973 and is headquartered in Hamilton, Bermuda.
Historical context
All EG earningsFinancial Services peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| PUK Prudential plc | FY2026 Q2 · Calendar Q3 2026 | -40.9% | -0.5% | Prudential sustains growth and capital returns focus in H1 2026 |
| CM Canadian Imperial Bank of Commerce | FY2026 Q3 · Calendar Q3 2026 | +8.9% | -2.8% | CIBC Q3: Broad growth, resilient credit and expanded AI rollout |
| TD The Toronto-Dominion Bank | FY2026 Q3 · Calendar Q3 2026 | +13.8% | +1.4% | TD emphasizes growth investments alongside disciplined capital management |
| RY Royal Bank of Canada | FY2026 Q3 · Calendar Q3 2026 | +6.2% | -1.3% | RBC reports record Q3 earnings while investing for growth |
| AFRM Affirm Holdings, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1230.3% | +0.3% | Affirm's most profitable quarter shifts focus to product execution |
Latest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
Get the EG recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-30T22:07:04.130441+00:00
- FN2 earnings calendar · 2026-09-03T01:23:14.877038+00:00
- Polygon adjusted daily market bars · 2026-09-23T11:10:56.386625+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T11:10:56.383713+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.