Chubb Earnings: Everything You Must Know Now
The Chubb Corporation (NYSE:CB) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
The Chubb Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 25.88% to $2.14 in the quarter versus EPS of $1.70 in the year-earlier quarter.
Revenue: Decreased 10.35% to $3.06 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Chubb Corporation reported adjusted EPS income of $2.14 per share. By that measure, the company beat the mean analyst estimate of $1.74. It beat the average revenue estimate of $3.02 billion.
Quoting Management: “Chubb is off to a great start in 2013,” said John D. Finnegan, Chairman, President and Chief Executive Officer. “Operating income per share of $2.14 and net income per share of $2.48 were both the highest of any quarter in Chubb’s history. Our combined ratio was an outstanding 84.6%, reflecting the impact of higher rates, strong underlying underwriting performance and low catastrophe losses. We are also encouraged by the renewal rate increases we continued to obtain in all of our business units.”
Key Stats (on next page)…