Allstate Earnings Surpass Targets
| Earnings Scorecard | ||
| Actual | Estimated* | Year-Ago |
| $0.80 | $0.72 | $0.66 |
 | ||
Allstate (ALL Quote) posted fourth-quarter earnings that exceeded analysts' expectations, helped by improved profits in its main car and home insurance business, as well as its life insurance unit.
The Northbrook, Ill.-based insurer said second-quarter earnings, excluding restructuring and acquisition charges, were $589 million, or 80 cents a share, compared with $524 million, or 66 cents a share, for the same period in 1999. According to First Call/Thomson Financial, 22 analysts produced a consensus estimate of 72 cents a share for the quarter.
Quarterly revenue rose to $7.2 billion from $7 billion a year ago. Allstate said the chief component of overall revenue, property-casualty premiums, dipped 2% to $5.3 billion from $5.4 billion in 1999, a result of the elimination of unprofitable policies from the company's underwriting book. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,452.00 | 1,107.93 | 2,201.05 | 36.03 |
Oil *
72.08
|
|
DOWN
49.05
|
DOWN
6.18
|
DOWN
11.05
|
UP
0.57
|
10 Yr
3.60%
SPDR Gold
110.21
|
|
-0.47%
|
-0.55%
|
-0.50%
|
+1.61%
|
Data delayed 20 minutes |
Connect with TheStreet