Allstate reports Q2 adjusted EPS $1.61, consensus 37c

Reports Q2 revenue $15.71B, consensus $14.15B. Allstate’s strong execution capabilities benefited second quarter results and position us for continued success,” said Tom Wilson, CEO of The Allstate Corporation. “Revenues grew by 12% from the prior year to $15.7B for the quarter reflecting increased insurance premiums and higher investment income. Almost 2M customer claims were handled in the quarter to help rebuild lives after storms, accidents and device breakage. The Property-Liability profit improvement plan progressed resulting in an underlying combined ratio of 85.3. Protection Services and the Health and Benefits businesses also generated strong results. As a result, net income applicable to common shareholders was $301M with adjusted net income of $1.61 per diluted common share.”