CNA Financial Earnings: Here’s Why Shares are Selling Off Now

CNA Financial Corporation (NYSE:CNA) had a loss and missed Wall Street’s expectations. Shares are down 1.5%.

CNA Financial Corporation Earnings Cheat Sheet

Results: Adjusted Earnings Per Share decreased to $-0.03 in the quarter versus EPS of $0.71 in the year-earlier quarter.

Actual vs. Wall St. Expectations: CNA Financial Corporation reported adjusted EPS loss of $-0.03 per share. By that measure, the company missed the mean analyst estimate of $0.04.

Quoting Management: “Our results in the fourth quarter were materially affected by Storm Sandy. In addition, our track record of continuously improving our accident year loss ratio was slowed by a number of large non-cat losses in this year’s fourth quarter. We did drive meaningful rate increases across our P&C portfolio and expect to show renewed progress toward our longer term goals throughout 2013,” said Thomas F. Motamed, Chairman and Chief Executive Officer of CNA Financial Corporation.

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