Cincinnati Financial reports Q2 non-GAAP EPS $1.97, consensus $1.39

Reports Q2 revenue $3.25B, consensus $2.79B. Reports $91.46 book value per share at June 30, 2025, up $2.35 since year-end. CEO Stephen Spray commented: “I’m pleased with our overall Q2 2025 results. It was a solid quarter, showing the strength of our agent-centered strategy and the value of our long-term plans to steadily expand product and geographic diversification as well as deepen pricing segmentation and sophistication. We saw the increases in weather-related catastrophe events that started the year continue in the Q2…While our 103.8% combined ratio for the first six months of the year is higher than we’d like it to be, that ratio for our second quarter improved 3.6 points to 94.9%. Again demonstrating the strength of our long-term initiatives, our current accident year combined ratio before catastrophe losses improved 3.1 points for the quarter and 1.9 points for the first six months, reaching 85.1% and 87.7%, respectively. Pretax investment income for the second quarter also grew, rising 18% to $285 million, driven by a 24% increase in bond interest income.”