Kemper (KMPR) Misses Q1 EPS by 4c

Kemper (NYSE: KMPR) reported Q1 EPS of ($0.04), $0.04 worse than the analyst estimate of $0.00. Revenue for the quarter came in at $611.3 million versus the consensus estimate of $594.49 million.

“We made progress on stabilizing the Property & Casualty top line and improving underlying performance in our legacy lines, yet saw elevated catastrophe losses and continued challenges at Alliance United,” commented Joseph P. Lacher, Jr., Kemper’s President and Chief Executive Officer. “At Alliance United, we slowed new business writings significantly through disciplined pricing, underwriting and agency management actions. The underlying Life & Health segment results continued to be stable. Total investment returns were lower than expectations and last year, with most of the variance related to our alternative investment portfolio.

“While we are pleased with the progress in some areas, we still have much work to do. We continue to implement actions to improve core results while we define our refocused strategy, which we plan to share in late summer,” concluded Lacher.

For earnings history and earnings-related data on Kemper (KMPR) click here.

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