Allstate Corp. (ALL) Tops Q1 EPS by 11c

Allstate Corp. (NYSE: ALL) reported Q1 EPS of $1.30, $0.11 better than the analyst estimate of $1.19. Revenue for the quarter came in at $8.68 billion versus $8.46 billion last year.

"We successfully executed our customer-focused strategy with continued growth in the Allstate, Esurance and Encompass brands. At the same time, shareholders benefited with net income of $587 million for the quarter, and an operating return on equity of 14.4% over the 12 months ended March 31, 2014," said Thomas J. Wilson, chairman, president and CEO of The Allstate Corporation. "Focusing on unique customer value propositions for different customers, an expansion of local Allstate agencies and a new and expanded advertising program for Esurance resulted in 2.0% growth in property-liability insurance policies in force over the prior year quarter. The property-liability underlying combined ratio was 88.4, in line with our outlook range for the year despite the impact of severe winter weather. Allstate Financial also had strong results with $162 million of net income and the completion of the sale of Lincoln Benefit Life on April 1. We continued providing strong cash returns to shareholders by authorizing a new $2.5 billion share repurchase program and raising the quarterly dividend by 12% for the first quarter," concluded Wilson.

For earnings history and earnings-related data on Allstate Corp. (ALL) click here.

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