Cincinnati Financial Q2 net income down 42% to $1.98/share; operating income up 7%

CINCINNATI FINANCIAL CORP

2024-Q2 EPS reported $6.77 revenue$5,479,000,000

Net income $312M ($1.98/diluted) vs $534M ($3.38) in Q2 2023, down 42% due to $235M decrease in net investment gains.
Non-GAAP operating income increased 7% to $204M ($1.29/share) from $191M ($1.21) in prior-year quarter.
Earned premiums up 11% to $2,156M; net investment income up 10% to $242M.
Book value per share $81.79, up $4.73 since year-end; value creation ratio 8.2% for H1 2024 vs 7.2% in H1 2023.
Cash dividend declared $0.81/share, up 8% from $0.75 in Q2 2023.

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