Reinsurance Group of America (RGA) Misses Q4 EPS by 24c

Reinsurance Group of America (NYSE: RGA) reported Q4 EPS of $2.60, $0.24 worse than the analyst estimate of $2.84. Revenue for the quarter came in at $0 versus the consensus estimate of $3.22 billion.

The Tax Cut and Jobs Act of 2017 (“U.S. Tax Reform”) was enacted on December 22, 2017, reducing the statutory federal income tax rate from 35 percent to 21 percent, effective January 1, 2018. The estimated impact of U.S. Tax Reform was a tax benefit, recognized in net income during the fourth quarter, of approximately $1.0 billion, or $15.71 per diluted share. The estimated impact primarily relates to the rate change on the Company’s net deferred tax liabilities existing at the date of enactment, and did not affect RGA’s adjusted operating income, a non-GAAP financial measure. The impact of U.S. Tax Reform may differ from this estimate, and is based on the best information currently available and may change as a result of changes in interpretations and the Company\'s assumptions.

For earnings history and earnings-related data on Reinsurance Group of America (RGA) click here.

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