Allstate reports Q1 adjusted EPS $5.13, consensus $3.94

Reports Q1 revenue $15.26B, consensus $12.88B. “Allstate’s broad-based profitability reflects the benefits of strong operating capabilities, decisive actions to improve shareholder value and lower catastrophe losses,” said Tom Wilson, Chair, President and CEO of The Allstate Corporation. “Auto profitability was enhanced as a growing number of states achieved targeted margin levels in the quarter. Industry leading home insurance capabilities, when combined with lower catastrophe losses, further improved profitability. Investment income increased primarily due to higher yields and extension of fixed income maturities over the last 18 months. Revenues reached $15.3 billion for the quarter, increasing 10.7% compared to the prior year. Net income was $1.2 billion with adjusted net income of $5.13 per diluted common share.”