Q: Hi there!
I see TSU reported strong (?) results today and the share price has taken a nice bump. Is this finally the start of share growth we have been patiently waiting for?
I see TSU reported strong (?) results today and the share price has taken a nice bump. Is this finally the start of share growth we have been patiently waiting for?
5i Research Answer:
EPS of $0.75 beat estimates of $0.714 and sales of $793.1M beat estimates of $759.22M. Following the results, shares of TSU hit a new all-time high, after consolidating for the past four years. We are encouraged by the breakout, and we would like to see continuation in the weeks/months following. Net income of $37.6M for the quarter was strong due to net gains on the investment portfolio. It recorded an operating ROE of 16.6%, and its book value per share increased 18.1% year-over-year. It saw momentum in its Primary lines which grew 15.4% for the quarter, and its Surety lines continue to scale in the US. This was a solid quarter and we think investors should be pleased with these results.