Cincinnati Financial Q2 revenue misses estimates, stock falls 7.2%

Earnings

โดย Yahoo Finance·

Summary · why it matters

Cincinnati Financial reported second-quarter revenues of $2.97 billion, up 6.9% year on year but 1.2% below analyst expectations, and its stock has fallen 7.2% since the report to $170.95. The company also significantly missed analysts' EPS and net premiums earned estimates. Among the 32 property and casualty insurers tracked, the group overall beat revenue consensus by 2.3% and guided next quarter's revenue 0.9% above expectations. Essent Group was the best performer with revenues of $362.7 million, up 13.6% year on year and 9.7% above estimates, while Radian Group was the weakest with revenues of $580.7 million, up 90.8% year on year but in line with expectations and a significant EPS miss.