logo
Share SHARE
FONT-SIZE Plus   Neg

Cincinnati Financial Profit Falls Amid Revenue Growth, Misses Estimate

Property and casualty insurer Cincinnati Financial Corp (CINF) Thursday reported first-quarter net earnings of $91 million or $0.55 per share compared with $151 million or $0.94 per share last year.

Excluding items, operating earnings for the quarter were $77 million or $0.46 per share compared with $128 million or $0.78 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.55 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were up 8% at $1.19 billion compared with $1.1 billion in the prior year. Analysts estimated revenues of $1.16 billion for the quarter.

Total benefits and expenses for the quarter escalated to $1.07 billion from $886 million in the prior year.

Property casualty combined ratio for the quarter worsened to 100.3 percent from 91.2 percent last year.

At the end of the quarter, the company had a book value of $37.73 per share, compared with $35.41 per share a year ago.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Apple Inc. (AAPL) gained 5 percent in extended trading session after the tech giant reported a third-quarter profit and revenues that trumped Wall Street expectations driven by higher-than-expected iPhone sales. Although, Apple reported its second year-over-year decline in iPhone sales,... Micro-blogging site Twitter Inc. (TWTR), Tuesday reported a smaller loss for the second quarter, as revenues climbed 20 percent reflecting growth in its advertising business despite a continued poor growth in number of users. Adjusted earnings for the quarter trumped Wall Street expectations, while revenues... BlackBerry has launched its second Android smartphone DTEK50, which the struggling company touts as the most secure Android smartphone ever. DTEK50 is BlackBerry's second smartphone powered by Android, following the PRIV. The device actually shares its design and hardware specifications with the recently...
comments powered by Disqus
Follow RTT