Allstate Profit, Revenue Beat Estimates

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The Allstate Corp. said Wednesday it had net income of $795 million, or $1.86 a share, in the fourth quarter, down from $810 million, or $1.76 a share, in the year-earlier period. Operating earnings came to $1.72 a share, ahead of the FactSet consensus of $1.69. The insurer said revenue fell 0.4% to $8.759 billion from $8.792 billion, ahead of the FactSet consensus of $7.242 billion. Catastrophe losses totaled $95 million, down from $117 million. Property-casualty premiums written came to $7.354 billion, up from $7.014 billion. Net investment income came to $779 million, down from $1.026 billion. Shares edged down 1% in after-hours trade, and have gained 11.6% in the past three months, while the S&P 500 has lost 2.8%.

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