Cincinnati Financial Q3 net income $820M vs loss year ago; operating income down 14%

CINCINNATI FINANCIAL CORP

2024-Q3 EPS reported $11.97 revenue$8,799,000,000

Q3 net income $820M ($5.20 diluted EPS) vs net loss of $99M (($0.63) per share) in Q3 2023, driven by $645M after-tax fair value increase in equity securities.
Non-GAAP operating income $224M ($1.42 per share) vs $261M ($1.66 per share), down 14% on higher catastrophe losses.
Earned premiums up 13% to $2.3B; net investment income up 15% to $258M.
Book value per share $88.32, up $11.26 from year-end 2023; value creation ratio 17.8% for 9 months vs 4.4% prior year.
Quarterly cash dividend declared $0.81 per share, an 8% increase over prior year.

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