earnings
confidence high
sentiment positive
materiality 0.75
Cincinnati Financial Q1 net income $755M ($4.78/share) up 236% YoY; operating income up 93%
CINCINNATI FINANCIAL CORP
2024-Q1 EPS reported
$4.78
revenue$2,935,000,000
- Net income $755M ($4.78 diluted EPS) vs $225M ($1.42) in Q1 2023; non-GAAP operating income $272M ($1.72) vs $141M ($0.89).
- Net investment gains after-tax $483M, up from $84M largely due to $484M after-tax increase in fair value of equity securities still held.
- Property casualty underwriting income after-tax increased $111M; earned premiums up 8% to $2,071M, investment income up 17% to $245M.
- Book value per share $80.83, up $3.77 since year-end; cash dividend declared $0.81, up 8% from $0.75.
- Value creation ratio 5.9% for Q1 2024 vs 3.1% for Q1 2023.