Overview
Allstate Q3 revenue rises 3.8% to $17.3 bln, beating analyst expectations
Adjusted EPS for Q3 at $11.17, surpassing consensus estimates
Net income for Q3 at $3.7 bln, driven by strong operating performance
Outlook
Allstate expects continued growth in Property-Liability market share
Company plans to deploy AI to reduce costs and enhance customer value
Allstate aims to expand Protection Plans internationally
Result Drivers
PROPERTY-LIABILITY GROWTH - Increased market share in non-standard auto and homeowners insurance, supported by new products and expanded distribution
PROTECTION PLANS EXPANSION - International growth in Protection Plans with a 14.8% revenue increase over the prior year
LOWER CATASTROPHE LOSSES - Reduced catastrophe losses contributed to improved combined ratios and underwriting income
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Revenue | Beat | $17.26 bln | $15.66 bln (6 Analysts) |
Q3 Adjusted EPS | Beat | $11.17 | $7.54 (20 Analysts) |
Q3 Adjusted Net Income | Beat | $2.98 bln | $1.93 bln (15 Analysts) |
Q3 Net Income | $3.72 bln | ||
Q3 Adjusted Combined Ratio | 78.70% |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 17 "strong buy" or "buy", 5 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the property & casualty insurance peer group is "buy"
Wall Street's median 12-month price target for Allstate Corp is $237.00, about 17.8% above its November 5 closing price of $194.75
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 10 three months ago
Press Release: ID:nBw5mgbDa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)