Cincinnati Financial reports Q3 adjusted EPS $1.66 , consensus $1.15

Reports Q3 revenue $1.81B vs. $1.41B last year. CEO Steven Johnston commented: “Non-GAAP operating income for Q3 was $261M, up significantly compared to last year’s Q3, driven by underwriting profits as well as pretax investment income that increased 17% for the quarter.,,Our combined ratio of 94.4% – 9.5 points better than last year’s third-quarter result – helped to bring our nine-month ratio to 97.5%. On a nine-month basis, our current accident year combined ratio before catastrophe losses – sometimes referred to as our core combined ratio – improved 1.7 points to 89.4% compared with last year. Our life insurance operation recorded $65 million in net income through September 30, increasing 27% compared to the same period of 2022.”