Cna Financial Corp. (CNA)
NYSE:CNA
Earnings Data
Report Date
May 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.27Last Year’s EPS
1.03Same Quarter Last Year
Moderate Sell
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple record achievements—record full-year core income, record P&C core income, record underlying underwriting gain, and record investment income—alongside strong balance sheet metrics (equity growth, record statutory capital, A+ rating) and solid cash flow. Operational efficiency improved (expense ratio lowest since 2008) and management announced a meaningful special dividend. Offsetting items include a modest decline in quarterly core income, higher combined and loss ratios in the quarter, reserve strengthening in Specialty and A&EP-related corporate charges, selective top-line softness in certain lines (e.g., commercial auto) and continued rate pressure internationally. Overall, the positive achievements and record results materially outweigh the identified challenges, though management remains cautious in pockets of the portfolio.Company Guidance
Record Full-Year Core Income and Underwriting Gains
Full-year core income was a record $1,342 million. P&C core income reached a record $1,664 million and underlying underwriting gain was a record $855 million. The company delivered a core return on equity of 10.6% for 2025.
Strong Investment Performance
Total net investment income was a record $2,557 million for full-year 2025, up 2% versus 2024. Fourth-quarter net investment income was $653 million, up 1% year-over-year. Fixed income and other investments produced $2,255 million for the year (up 4%); consolidated fixed income effective yield was 4.9% in Q4 (up from 4.8%).
Improved Expense Efficiency
Full-year P&C expense ratio improved 0.5 points to 29.7% (lowest since 2008). Fourth-quarter P&C expense ratio was 30.1% and included a 0.5-point nonrecurring technology charge. Management expects an expense ratio near 30% as a reasonable run-rate into 2026.
Strong Balance Sheet and Capital Actions
Stockholders' equity excluding AOCI was $12.7 billion ($46.99/share), up ~10% from year-end 2024 (adjusted for dividends). Statutory capital and surplus at the combined Continental Casualty Companies was a record $11.6 billion (up from $11.2 billion). Operating cash flow for 2025 was $2.5 billion. AM Best upgraded CNA's financial strength rating to A+ with a stable outlook.
Production and Premium Growth
P&C net written premium grew 5% for the full year and net earned premium grew 7%. New business reached a record $2,348 million, up 4% for the year. Fourth-quarter net written premium grew 2% aggregate, and renewal premium change was 4%. Retention improved to 84% in Q4 (up 3 points versus prior quarter).
Segment-Level Achievements
Commercial segment posted an all-in underwriting gain of $109 million (best on record) with an all-in combined ratio of 92.5% and underlying combined ratio near record low (90.2%). International produced a strong Q4 all-in combined ratio of 85.3% with favorable prior period development and 20% new business growth in the quarter.
Capital Return to Shareholders
Declared a 4% increase in the regular quarterly dividend from $0.46 to $0.48 and a special dividend of $2.00 per share, implying an approximate 8% dividend yield using the referenced closing price including the special dividend.
CNA Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
CNA Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 09, 2026 | $47.36 | $46.69 | -1.40% |
Nov 03, 2025 | $41.92 | $41.45 | -1.12% |
Aug 04, 2025 | $40.90 | $42.55 | +4.03% |
May 05, 2025 | $44.65 | $44.37 | -0.62% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Cna Financial Corp. (CNA) report earnings?
Cna Financial Corp. (CNA) is schdueled to report earning on May 04, 2026, Before Open (Confirmed).
What is Cna Financial Corp. (CNA) earnings time?
Cna Financial Corp. (CNA) earnings time is at May 04, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is CNA EPS forecast?
CNA EPS forecast for the fiscal quarter 2026 (Q1) is 1.27.