earnings
confidence high
sentiment negative
materiality 0.75
CNA Q2 net income $321M ($1.18/sh) up 7%; core income $324M down 3% YoY
CNA FINANCIAL CORP
- Net income $321M ($1.18 diluted EPS) vs $299M ($1.10) prior year; core income $324M ($1.19) vs $335M ($1.23).
- P&C core income $426M, down $22M YoY; combined ratio 96.5% vs 94.1% on higher underlying loss ratio (64.1% vs 61.5%).
- Net investment income $701M, up $39M driven by limited partnerships and fixed income securities.
- Life & Group core loss $10M vs income $1M; Corporate & Other core loss $92M includes $77M legacy mass tort charge.
- Book value per share ex AOCI $45.83, up 4% from year-end adjusting for dividends; quarterly dividend $0.48 declared.