Free Post Earnings Research Report: The Allstate’s Q4 Results Outperformed Estimates
Stock Monitor: Amerisafe Post Earnings Reporting
LONDON, UK / ACCESSWIRE / March 06, 2018 / Active-Investors.com has just released a free earnings report on The Allstate Corp. (NYSE: ALL) ("Allstate"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=ALL. The Company posted its financial results on February 07, 2018, for the fourth quarter of the fiscal year 2017 (Q4 FY17) and for the full fiscal year 2017 (FY17). The Company's consolidated revenues grew 6.1% y-o-y, outperforming Wall Street's estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, The Allstate most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
During Q4 FY17, Allstate reported consolidated revenues of $9.84 billion, rising from the $9.28 billion recorded at the end of Q4 FY16. The Company's consolidated revenue numbers outperformed market expectations of $8.09 billion.
The insurance Company reported a net income applicable to common shareholders of $1.22 billion, or $3.35 per diluted share, in Q4 FY17, which came in above $811 million, or $2.18 per diluted share, in Q4 FY16. Meanwhile, the Company's adjusted net income fell to $762 million, or $2.09 per diluted share, during Q4 FY17 from $807 million, or $2.17 per diluted share, in Q4 FY16. Meanwhile, Wall Street had forecasted an operating income of $1.53 per diluted share for Q4 FY17. The Company attributed the increase in the quarterly adjusted net income to an improved underlying performance, while the favorable prior-year reserve re-estimates were offset by higher catastrophe losses and expenses.
For the full year FY17, the Northbrook, Illinois-based Company's consolidated revenues stood at $38.52 billion, which were 5.4% above the $36.53 billion in FY16. The Company's net income applicable to common shareholders rose to $3.07 billion, or $8.36 per diluted share, during FY17 from $1.76 billion, or $4.67 per diluted share, in the previous year. Additionally, the Company's adjusted net income stood at $2.47 billion, or $6.71 per diluted share, in FY17, compared to $1.84 billion, or $4.87 per diluted share, in FY16.
Operating Metrics
For the three months ended December 31, 2017, the Company's total cost and expenses were $8.69 billion compared to $8.02 billion in Q4 FY16. The Company's income from operations before income tax expenses came in at $1.16 billion in Q4 FY17 versus $1.26 billion in the year ago same quarter.
Allstate generated a net investment income of $913 million in Q4 FY17, which came in 14.0% above $801 million in the previous year's comparable quarter. In Q4 FY17, the Company's realized capital gains and losses were $127 million compared to $2 million in Q4 FY16. Furthermore, the Company's total return on its investment portfolio was 1.1% during Q4 FY17 compared to a negative return on the investment portfolio of 0.7% in Q4 FY16.
Allstate's net income-based return on common shareholders' equity was 15.5% in the twelve months ended December 31, 2017, compared to 9.5% in the year ago corresponding quarter. The Company's return on common shareholders' equity came in at 13.3% in FY17 versus 10.4% in FY16. As on December 31, 2017, Allstate's book value per common share was $57.58, up 13.4% from $50.77 as on December 31, 2016.
Segment Performance
During the reported quarter, Allstate's Property-Liability segment's premiums earned grew to $7.84 billion from $7.57 billion in the year ago same period. The segment's adjusted net income came in at $758 million in Q4 FY17 compared to $752 million in the past year's corresponding quarter. Furthermore, the segment's recorded combined ratio was 91.0 in Q4 FY17 compared to 89.7 in Q4 FY16.
Allstate's Service Businesses segment generated revenues of $264 million, which were more than the $181 million recorded in the last year. The segment posted an adjusted net loss of $24 million in Q4 FY17 compared to an adjusted net income of $1 million in Q4 FY16, primarily due to investments in Arity's research and development, a SquareTrade restructuring charge, and the deployment of a new digital platform in Allstate's Roadside Services.
Balance Sheet
Allstate generated $4.31 billion of cash from its operating activities in FY17 compared to $3.99 billion in FY16. The Company had a cash balance of $617 million as on December 31, 2017, compared to $436 million at the close of books on December 31, 2016. Furthermore, the Company's long-term debt was unchanged and stood at $6.35 billion at the end of the reported quarter.
Dividend and Share Repurchase
In its earnings press release, Allstate announced a 24% hike in quarterly dividend per common share to $0.46, payable in cash on April 02, 2018, to stockholders of record at the close of business on March 05, 2018.
During Q4 FY17, Allstate returned $713 million of capital to its shareholders through a common stock dividend of $134 million and by repurchasing outstanding shares worth $579 million. During the full year FY17, the Company returned a total of $1.9 billion to shareholders. Furthermore, the Company had $1.27 billion remaining under its $2.0 billion common share repurchase program as of December 31, 2017.
Stock Performance Snapshot
March 05, 2018 - At Monday's closing bell, The Allstate's stock climbed 1.40%, ending the trading session at $92.89.
Volume traded for the day: 2.55 million shares, which was above the 3-month average volume of 2.44 million shares.
Stock performance in the previous six-month period – up 2.64%; and past twelve-month period – up 13.47%
After yesterday's close, The Allstate's market cap was at $33.50 billion.
Price to Earnings (P/E) ratio was at 13.30.
The stock has a dividend yield of 1.98%.
The stock is part of the Financial sector, categorized under the Property & Casualty Insurance industry. This sector was up 1.0% at the end of the session.
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