NEW YORK (
reported earnings of $1.80 in the third quarter, safely ahead of the Street consensus for earnings of $1.39.
Chubb upped its guidance for the coming quarter and the full year. Based on what Chubb described as a "favorable outlook for the fourth quarter," the insurer increased 2010 full-year operating income per share guidance to a range of $5.75 to $5.85 from the previous guidance
The Street consensus had been at $5.42 for the full year.
For the final quarter 2010, Chubb is guiding to earnings of $1.53 to $1.63, ahead of the street consensus of $1.50.
For the full year 2011, the Street is looking for earnings of $5.65 on revenue of $11.3 billion from the insurer.
Chubb revenue was in line with the street expectation of $2.7 billion.
A part of the Chubb beat was an active share repurchase program, which also made for an easy comparison to earnings in the third quarter last year. Chubb repurchased 10.2 million shares of its common stock at a total cost of $555 million in the quarter. Share count was down almost 40 million shares from third quarter last year.
Chubb shares were close to flat in after hours trading.
-- Written by Eric Rosenbaum from New York.
Follow TheStreet.com on
and become a fan on
Copyright 2009 TheStreet.com Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.