Everest Group (EG) shares plummeted 8.90% in pre-market trading on Thursday following the release of its first-quarter 2025 earnings report. The company's results fell short of analyst expectations, triggering a significant sell-off.

According to the earnings summary, Everest Group reported adjusted earnings of $6.45 per share for the quarter ended March 31, considerably lower than the mean expectation of $7.62 per share from thirteen analysts. This figure also represents a substantial decrease from the same quarter last year when the company reported earnings per share of $16.32. Revenue for the quarter rose 5.5% to $3.85 billion, but still fell short of the $3.93 billion analysts had anticipated.

The disappointing results have led to a mixed response from Wall Street. TD Cowen maintained a Hold rating on Everest Group, while Evercore ISI Group kept their In-Line rating. The current average analyst recommendation for the stock remains a "buy," with 7 "strong buy" or "buy" ratings and 7 "hold" ratings. However, it's worth noting that the mean earnings estimate has fallen by about 35.8% in the last three months, with seven analysts revising their earnings estimates negatively in the past 30 days. This suggests growing concerns about the company's near-term performance outlook.