Allstate reports Q1 adjusted EPS $10.65, consensus $7.24

Reports Q1 revenue $16.9B, two estimatees $17.29B. “Allstate’s (ALL) strategy and execution capabilities generated strong earnings and increased growth in the first quarter,” said Tom Wilson, who leads The Allstate Corporation. “Revenues were $16.9 billion and net income was $2.4 billion. Policies in force reached 212 million, reflecting increased growth in auto and homeowners insurance and Protection Plans. The Property-Liability combined ratio was strong, and the underlying combined ratio improved in all personal lines products and brands. Investment income increased by 9.8%, reflecting portfolio growth and higher fixed income yields. Adjusted net income was $2.8 billion, or $10.65 per diluted common share.”