Travelers Companies Q3 EPS Misses Consensus On Mounting Catastrophe Losses
Portfolio Pulse from Lekha Gupta
Travelers Companies Inc (NYSE:TRV) reported Q3 2023 revenues of $10.64 billion, up 14% Y/Y, beating the consensus of $10.33 billion. However, core income declined 14% Y/Y to $454 million due to higher catastrophe losses. Core EPS of $1.95, down 11% Y/Y, missed the consensus of $2.99. The company repurchased 0.6 million shares for $101 million and declared a dividend of $1.00 per share.
October 18, 2023 | 1:04 pm
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Travelers Companies reported higher revenues but lower EPS due to catastrophe losses. The company also repurchased shares and declared a dividend.
Travelers Companies reported higher revenues but lower EPS due to catastrophe losses. This mixed result could lead to neutral short-term price movement. The company's share repurchase and dividend declaration could provide some support to the stock price.
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