Allstate Q2 Adj $(4.42) Misses $(4.04) Estimate, Sales $12.62B Beat $12.52B Estimate
Portfolio Pulse from Benzinga Newsdesk
Allstate reported Q2 losses of $(4.42) per share, missing the analyst consensus estimate of $(4.04) by 9.41%. This is a 481.58% decrease over losses of $(0.76) per share from the same period last year. However, the company's quarterly sales of $12.62 billion beat the analyst consensus estimate of $12.52 billion by 0.80%, a 9.65% increase over sales of $11.51 billion the same period last year.
August 04, 2023 | 10:33 am
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NEGATIVE IMPACT
Allstate's Q2 earnings missed estimates, but sales beat expectations.
Allstate's larger than expected losses could negatively impact the stock price in the short term. However, the better than expected sales could mitigate some of this impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100