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Cincinnati Financial Corp. (CINF)
NASDAQ:CINF
Holding CINF?
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Earnings Data
Report Date
Feb 11, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.88Last Year’s EPS
$2.28Same Quarter Last Year
Moderate Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 5.18%
|Next Earnings Date:Feb 11, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook for Cincinnati Financial Corporation. While the company experienced strong premium and investment income growth, as well as a positive outlook revision from Fitch Ratings, these were offset by significant increases in catastrophe losses, a decline in non-GAAP operating income, and higher loss ratios in certain segments. The company's prudent reserve management and strategic investment decisions were highlighted as strengths, but the challenges from severe weather and a dynamic legal environment pose ongoing risks.Company Guidance
During the Cincinnati Financial Corporation's Q3 2024 earnings call, management provided detailed guidance, highlighting several key metrics. The company reported a net income of $820 million, which included a $645 million after-tax gain from the increase in the fair value of equity securities. Non-GAAP operating income totaled $224 million, a decrease of $37 million from the previous year due to an $86 million rise in catastrophe losses. The property casualty combined ratio for the quarter was 97.4%, reflecting an increase of 3.0 percentage points from the prior year, largely due to a 3.9-point rise in catastrophe losses. However, the accident year combined ratio before catastrophe losses improved by 0.9 percentage points to 86.8% for the quarter. The company experienced a 17% growth in consolidated property casualty net written premiums, with renewal premiums growing by 16% and new business premiums by 30%. The Commercial Lines segment saw an 11% increase in net written premiums and an improved combined ratio of 93.0%, while Personal Lines grew by 29% but faced a higher combined ratio of 110.3% due to increased catastrophe losses. The Excess and Surplus Lines segment also reported a 23% growth in premiums with a 95.3% combined ratio. Additionally, Cincinnati Re's net written premiums rose by 5%, with a combined ratio of 95.6%, and Cincinnati Global achieved a combined ratio of 66.6% with 12% premium growth. The life insurance subsidiary reported a net income of $20 million and a 4% growth in term life insurance earned premiums. Looking ahead, the company estimated pretax incurred losses from Hurricane Milton to be between $75 million and $125 million. Meanwhile, the value creation ratio for the third quarter was 9.0%, contributing to a 9-month total of 17.8%.Strong Premium Growth
Consolidated property casualty net written premiums grew 17% for the quarter, with 16% growth in agency renewal premiums and 30% in new business premiums.
Investment Income Growth
Investment income grew 15% in Q3 2024 compared to the same quarter in 2023. Bond interest income grew 21% for the quarter.
Value Creation Ratio Improvement
The third quarter 2024 VCR was 9.0%, bringing the 9-month total to an excellent 17.8%.
Fitch Ratings Upgrade
Fitch Ratings revised the company's outlook to positive from stable based on sustained profitability and financial strength.
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CINF Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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CINF Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $137.46 | $140.45 | +2.18% |
| Jul 25, 2024 | $118.91 | $122.53 | +3.04% |
| Apr 25, 2024 | $116.24 | $108.82 | -6.38% |
| Feb 06, 2024 | $109.27 | $104.33 | -4.52% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Cincinnati Financial Corp. (CINF) report earnings?
Cincinnati Financial Corp. (CINF) is schdueled to report earning on Feb 11, 2025, TBA Not Confirmed.
What is Cincinnati Financial Corp. (CINF) earnings time?
Cincinnati Financial Corp. (CINF) earnings time is at Feb 11, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CINF EPS forecast?
CINF EPS forecast for the fiscal quarter 2024 (Q4) is $1.88.
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