Q3 Earnings Push Insurance ETFs Higher

The insurance industry has performed strongly this reporting cycle with robust earnings from leading players. Prominent players such as MetLife (MET - Free Report) , Prudential Financial (PRU - Free Report) , Chubb Corp (CB - Free Report) , Allstate (ALL - Free Report) , Aflac (AFL - Free Report) and Travelers (TRV - Free Report) either surpassed the estimates for earnings or revenues or both.

Insurance Earnings in Focus

MetLife, the U.S. life insurance behemoth, reported earnings of $1.27 per share, which missed the Zacks Consensus Estimate by 14 cents and declined 8% from the year-ago quarter. Revenues rose 3% year over year to $16.9 billion and were well above the consensus estimate of $16.92 billion. PRU, the second-largest U.S. life insurer, beat earnings estimates and missed on revenues. Earnings per share of $3.22 were well above the Zacks Consensus Estimate of $3.08 and 2.2% higher than the year-ago earnings. Revenues of $12.93 billion lagged the estimated $14.31 billion and declined 10.4% year over year.

One of the leading property and casualty insurers, Chubb, outpaced the Zacks Consensus Estimate on both the top and the bottom line by $715 million and 6 cents, respectively. Another property and casualty insurer, Allstate also topped the Zacks Consensus Estimate on earnings and revenues by 12.7% and 19.9%, respectively. On a year-over-year basis, its earnings improved 47% while revenues were up 5.7%.

Earnings per share of $1.16 reported by Aflac, a seller of supplement health insurance, trumped the Zacks Consensus Estimate by 9 cents and increased from the year-ago earnings of $1.03. Revenues declined from $5.58 billion in the year-ago period to $5.54 billion and fell shy of the estimate by 0.51%.

Personal property and casualty insurer, Travelers posted earnings per share of $1.43, missing the Zacks Consensus Estimate by 95 cents but declining 43.7% year over year. Revenues grew 4% year over year to $8 billion and were ahead of the estimated $7.86 billion.

1 2
View single page >> |

Disclosure: Zacks.com contains statements and statistics that have been obtained from sources believed to be reliable but are not guaranteed as to accuracy or completeness. References to any specific ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.