EmailAllstate (ALL $26.24 -0.10) reported third quarter earnings of $0.32 per share, may not be comparable to the Capital IQ Consensus Estimate of $0.14.
Revenues fell 1.0% year/year to $6.43 billion versus the $6.46 billion consensus.
Book value per share totaled $35.56 at September 30, 2011, compared to $35.95 at June 30, 2011 and $35.48 at September 30, 2010. Strong auto profitability, realized capital gains and an increase in unrealized gains on the fixed income portfolio so far this year have offset the impact of high catastrophe losses and a decline in the value of our equity portfolio," Civgin concluded. '
The Property-Liability underlying combined ratio of 88.9 for the first three quarters of 2011 continued to compare favorably with our full-year guidance range of 88 to 91. "Maintaining auto insurance profitability and proactively managing our investment portfolio enabled us to overcome an increase of $691 million in catastrophe losses from the third quarter of 2010 and still earn a profit," said Thomas J. Wilson, chairman, president and chief executive officer of The Allstate Corporation.
