Travelers stock up 3.5% premarket after Q1 earnings blow past estimates

📆 4/19/2023 8:17 AM
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Travelers Cos. Inc.’s stock jumped 3.5% in premarket trade Wednesday, after the insurer blew past earnings estimates for the first quarter. The company...

Travelers Cos. Inc.’s stock TRV jumped 3.5% in premarket trade Wednesday, after the insurer blew past earnings estimates for the first quarter. The company posted net income of $975 million, or $4.13 a share, for the period, compared with $1.018 billion, or $4.15 a share, in the year-earlier period. Adjusted per-share earnings came to $4.11, well ahead of the $3.56 FactSet consensus. Revenue rose 10% to $9.704 billion from $8.809 billion, also well ahead of the $9.340 billion FactSet consensus.

15 a share, in the year-earlier period. Adjusted per-share earnings came to $4.11, well ahead of the $3.56 FactSet consensus. Revenue rose 10% to $9.704 billion from $8.809 billion, also well ahead of the $9.340 billion FactSet consensus. Net written premiums rose 12% to $9.396 billion. The company’s underlying combined ratio, a measure of overall profitability, stood at 90.6%.

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