Travelers (TRV) Tops Q2 EPS by 5c
Travelers (NYSE: TRV) reported Q2 EPS of $2.24, $0.05 better than the analyst estimate of $2.19. Revenue for the quarter came in at $6.79 billion versus the consensus estimate of $6.37 billion.
- Net and operating income of $664 million and $649 million, respectively, declined from the prior year quarter, primarily due to higher catastrophe losses, including the Fort McMurray wildfires, higher non-catastrophe weather-related losses and lower net investment income.
- Strong consolidated underwriting results, as reflected in combined ratio of 93.1% and underlying combined ratio of 92.3%.
- Record net written premiums of $6.345 billion, up 3% from prior year quarter.
- Total capital returned to shareholders of $747 million in the quarter, including $550 million of share repurchases. Year-to-date total capital returned to shareholders of $1.537 billion, including $1.159 billion of share repurchases.
- Book value per share of $85.73 increased 11% from end of prior year quarter and 7% from year-end 2015. Adjusted book value per share of $77.61 increased 6% and 3%, respectively, from same dates.
- Board of Directors declared quarterly dividend per share of $0.67.
For earnings history and earnings-related data on Travelers (TRV) click here.
