CNA Financial (CNA) Q2 Earnings Beat Estimates, Up Y/Y
Chicago, Il based CNA Financial Corporation CNA boasts being the eighth largest commercial insurance writer and the 14th largest property and casualty company in the U.S. The company provides insurance coverage for standard commercial lines, specialty lines, surety, marine and other property and casualty coverages.
CNA Financial has been intensifying its focus on core business and as such has been divesting the non-core operations. Besides aligning International operations, the company is also expanding its underwriting capabilities. CNA Financial remains focused on expense management to facilitate margin expansion.
Currently, CNA Financial carries a Zacks Rank #4 (Sell), but that could definitely change following its earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. We have highlighted some of the key stats from this just-revealed announcement below:
How was the Bottom Line?
CNA Financial beat estimates. Our consensus called for EPS of 96 cents per share, and the company reported EPS of 99 cents per share.
CNA Financial Corporation Price and EPS Surprise
CNA Financial Corporation Price and EPS Surprise | CNA Financial Corporation Quote
Key Stats to Note
• P&C combined ratio excluding catastrophe and development, as of Jun 30, 2018, was 95.3%, deteriorating 70 bps from the year-ago quarter.
• Core income was $270 million, which improved 12.9% from the year-ago quarter.
• Book value (excluding AOCI) as of Jun 30, 2018 was $44.29 per share, down 1.6% from Dec 31, 2017.
• Quarterly dividend declared was 35 cents per share, which marked a hike of 17%.
Check back later for our full write up on this CNA earnings report later!
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