Allstate Beats Q4 Estimates; Prudential Falls Short

Posted Feb 11th 2010 8:30AM by Trey Thoelcke
Filed under: Earnings Reports, Allstate Corp (ALL)

Insurance giants Allstate (ALL) and Prudential Financial (PRU) reported fourth-quarter results after the closing bell on Wednesday.

Allstate said it earned $518 million, or $1.09 cents per share. That exceeded the $1.01 per share expected by analysts polled by Thomson Reuters, and compares with a loss of $1.13 billion, or $2.10 per share, in the fourth quarter of 2008. Revenue for the quarter just past totaled $8.06 billion, which was up 22% from the year-ago period.

For the full year, Allstate posted earnings of $854 million, or $1.58 per share, compared with a net loss of $1.68 billion, or $3.06 per share, in 2008.

Allstate shares rose 20 cents in after-hours trading from Wednesday's close of $28.60.

Prudential reported net income of $1.8 billion, which compares to a net loss of $1.6 billion in the same period a year ago. Adjusted earnings of $1.07 per share missed analysts' expectations for $1.11 per share. Revenue for the period came to $6.8 billion, compared with the consensus estimate of $6.9 billion, and up from the year-ago figure of $5.9 billion.

The full-year earnings totaled $2.5 billion, or $5.58 per share, up from $1.1 billion, or $2.62 per share, a year ago.

Prudential shares fell 3.2% to $47.30 in after-hours trading.

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Tags: ALL, Allstate, featured, inthenews, PRU, Prudential

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Reader Comments (Page 1 of 1)

2-11-2010 @ 1:10PM

owend said...

For more Allstate Insurance earnings and shareholder information you can go to http://ir.allstate.com/phoenix.zhtml?c=93125&p=irol-irhome

Owen D
Advocate for Allstate