8-K
filed October 31, 2022, 7:59 PM ET
ticker CINF
CIK 0000020286
earnings
confidence high
sentiment negative
materiality 0.80
Cincinnati Financial reports Q3 net loss of $418M vs net income of $153M a year ago
CINCINNATI FINANCIAL CORP
2022-Q3 EPS reported
-$9.41
revenue$3,443,000,000
- Net loss of $418M ($2.64 diluted) vs net income of $153M ($0.94) in Q3 2021, driven by $557M after-tax reduction in equity securities fair value.
- Non-GAAP operating income fell 45% to $114M ($0.73) from $209M ($1.28); earned premiums up 13% to $1.882B.
- Book value per share decreased to $60.01 from $73.49 at year-end 2021; nine-month value creation ratio negative 24%.
- Cash dividend declared $0.69 per share, up 10% from $0.63 in Q3 2021.
- After-tax property casualty underwriting income decreased $114M year-over-year.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.98
CINCINNATI FINANCIAL CORP reported Three months ended September 30, 2022 results: revenue 1,408, net income ($418), EPS ($2.64).
- Period
- Three months ended September 30, 2022
- Revenue
- 1,408
- Net income
- ($418)
- EPS
- ($2.64)
- Result
- reported results
Exact text from the filing
Financial Highlights (Dollars in millions, except per share data) Three months ended September 30, Nine months ended September 30, 2022 2021 % Change 2022 2021 % Change Revenue Data Earned premiums $ 1,882 $ 1,669 13 $ 5,345 $ 4,806 11 Investment income, net of expenses 193 179 8 573 528 9 Total revenues 1,408 1,785 (21) 3,443 6,307 (45) Income Statement Data Net income (loss) $ (418) $ 153 nm $ (1,499) $ 1,476 nm Investment gains and losses, after-tax (532) (56) nm (1,970) 753 nm Non-GAAP operating income* $ 114 $ 209 (45) $ 471 $ 723 (35) Per Share Data (diluted) Net income (loss) $ (2.64) $ 0.94 nm $ (9.41) $ 9.07 nm Investment gains and losses, after-tax (3.37) (0.34) nm (12.37) 4.63 nm Non-GAAP operating income* $ 0.73 $ 1.28 (43) $ 2.96 $ 4.44 (33)
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.98
CINCINNATI FINANCIAL CORP reported Nine months ended September 30, 2022 results: revenue 3,443, net income ($1,499), EPS ($9.41).
- Period
- Nine months ended September 30, 2022
- Revenue
- 3,443
- Net income
- ($1,499)
- EPS
- ($9.41)
- Result
- reported results
Exact text from the filing
Financial Highlights (Dollars in millions, except per share data) Three months ended September 30, Nine months ended September 30, 2022 2021 % Change 2022 2021 % Change Revenue Data Earned premiums $ 1,882 $ 1,669 13 $ 5,345 $ 4,806 11 Investment income, net of expenses 193 179 8 573 528 9 Total revenues 1,408 1,785 (21) 3,443 6,307 (45) Income Statement Data Net income (loss) $ (418) $ 153 nm $ (1,499) $ 1,476 nm Investment gains and losses, after-tax (532) (56) nm (1,970) 753 nm Non-GAAP operating income* $ 114 $ 209 (45) $ 471 $ 723 (35) Per Share Data (diluted) Net income (loss) $ (2.64) $ 0.94 nm $ (9.41) $ 9.07 nm Investment gains and losses, after-tax (3.37) (0.34) nm (12.37) 4.63 nm Non-GAAP operating income* $ 0.73 $ 1.28 (43) $ 2.96 $ 4.44 (33)
View on SEC.gov
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