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
Maternity leave is a temporary period of absence from employment granted to expectant or new mothers during the months immediately before and after their pregnancy. Parental leave, including maternity, paternity and adoption leave, is an employee benefit. Many countries around the world, including... Texas, the second largest state in the U.S., has four of the five fastest-growing cities in the U.S., according to new population estimates released Thursday by the U.S. Census Bureau for the twelve months up to July 1, 2016. Ten of the fifteen fastest growing large U.S. cities during that 12-month span were in the South, according to the Census Bureau. To book-lover's surprise, online retailer Amazon opened another bricks and mortar store in an upmarket shopping mall in New York. This is the seventh book store of Amazon.
comments powered by Disqus
RELATED NEWS
Trade CINF now with 
Follow RTT