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Travelers' profit misses estimate on hit from catastrophe losses https://t.co/UfEPOPjOcj https://t.co/Ls7A4cwwLF
$TRV insurance company reported an earnings and revenue miss for its first quarter. Earnings per share came in at $4.69 versus the $4.90 expected from analysts polled by LSEG. Revenue was $10.18 billion compared with the $10.51 billion expected. Setup to fall https://t.co/GUjVJqyduQ
$TRV (-3.9% pre) Travelers (TRV) Lags Q1 Earnings Estimates - Zacks https://t.co/UMsCHUVAJh
The Travelers Companies reported mixed results for Q1 2024, with adjusted EPS of $4.69, missing the expected $4.90, while revenue exceeded expectations at $11.23 billion against an estimate of $11.19 billion. The insurer also announced a 5% increase in its regular quarterly cash dividend to $1.05 per share. Despite strong profitability and production across all segments, as noted by the CEO, the company experienced a 33% increase in catastrophe losses, contributing to a stock price drop of 3.9% in pre-market trading. Additionally, net investment income was $846 million and net premiums written totaled $10.18 billion.
