Travelers (TRV) Posts Q2 Core EPS of $1.92

Travelers (NYSE: TRV) reported Q2 core EPS of $1.92, $0.19 worse than the analyst estimate of $2.11. Revenue for the quarter came in at $7.18 billion versus the consensus estimate of $6.56 billion. The company reported net income of $595 million, or $2.11 per diluted share.

• Net income of $595 million and core income of $543 million impacted by relatively high levels of catastrophe and non-catastrophe weather-related losses.
• Combined ratio of 96.7%, included 6.4 points of catastrophe losses. Underlying combined ratio of 93.5%.
• Net investment income increased 9% pre-tax (6% after-tax) over prior year quarter due to strong private equity returns.
• Record net written premiums of $6.640 billion up 5% over prior year quarter, with growth in all segments.
• Total capital returned to shareholders of $676 million in the quarter, including $475 million of share repurchases. Year-to-date total capital returned to shareholders of $1.152 billion, including $761 million of share repurchases.
• Book value per share of $86.46 and adjusted book value per share of $82.71, up 4% and 3%, respectively, from year-end 2016.
• Board of Directors declared quarterly dividend per share of $0.72.

For earnings history and earnings-related data on Travelers (TRV) click here.

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