The Travelers Companies Inc. recently released its earnings for the first quarter, which saw an improvement from the previous year; however, they fell short of Wall Street's predictions.
The company's net income was $1.12 billion, or $4.80 per share, an increase compared to $975 million or $4.13 per share in the same period last year. When special items are excluded, the Travelers Companies Inc. posted an adjusted profit of $1.10 billion or $4.69 per share during this quarter.
Analysts, on average, had anticipated that the company would earn $4.90 per share, based on data compiled by Thomson Reuters. It's important to note that these estimates typically do not take into account one-off items.
In terms of revenue, the company reported a 15.8% increase to $11.23 billion up from $9.70 billion in the same period last year.
A summary of the earnings of Travelers Companies Inc. according to Generally Accepted Accounting Principles (GAAP) includes:
- Net income for Q1 stood at $1.12 billion, compared to $975 million in the previous year.
- Earnings Per Share (EPS) for Q1 was $4.80, which is an increase from last year's Q1 EPS of $4.13.
- Revenue for Q1 was $11.23 billion, an increase from $9.70 billion in the previous year.
