Company Performance - CNA Financial reported quarterly earnings of $1.19 per share, missing the Zacks Consensus Estimate of $1.21 per share, but showing an increase from $1.13 per share a year ago [1] - The company posted revenues of $3.13 billion for the quarter, surpassing the Zacks Consensus Estimate by 1.37%, and compared to $2.93 billion in the same quarter last year [9] - The earnings surprise for this quarter was -1.65%, and the company has topped consensus revenue estimates four times over the last four quarters [8][9] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $1.25 on revenues of $3.16 billion, and for the current fiscal year, it is $4.96 on revenues of $12.51 billion [12] - The estimate revisions trend for CNA Financial is favorable, leading to a Zacks Rank 2 (Buy) for the stock, indicating expected outperformance in the near future [5] Industry Context - CNA Financial operates within the Insurance - Property and Casualty industry, which is currently in the top 24% of over 250 Zacks industries, suggesting a positive outlook for the sector [6] - The company has added approximately 14.7% to its stock value since the beginning of the year, slightly outperforming the S&P 500's gain of 14.5% [10]

| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | |----------------------------------------------------------|-------|-------|-------|-----------------|-------|-------|----------|--------|-------| | Periods ended June 30 \n(In millions) | | 2024 | Three | Months \n2023 | | 2024 | Six \n | Months | 2023 | | Pretax (favorable) unfavorable development: | | | | | | | | | | | Commercial | $ | | 6 | $ | (3) | $ | 6 | $ | (5) | | Specialty | | | (9) | | 3 | | (9) | | 22 | | Other | | | — | | — | | — | ...

Financial Performance - Net earned premiums for Q2 2024 were $2,498 million, an increase of 6.4% from $2,347 million in Q2 2023[3] - Total revenues for the first half of 2024 reached $6,963 million, up 7.9% from $6,456 million in the same period of 2023[3] - Net income for Q2 2024 was $317 million, representing a 12.0% increase from $283 million in Q2 2023[3] - Diluted earnings per share for Q2 2024 were $1.17, up from $1.04 in Q2 2023[10] - Core income for Q2 2024 was $380 million, reflecting a 2% increase from $374 million in Q2 2023[12] - Core income for the first half of 2024 was $4 million, compared to a loss of $23 million in the same period of 2023, indicating a significant improvement[16] - Core income for Q2 2024 was $44 million, reflecting a 16% increase from $38 million in Q2 2023[39] Investment Performance - Net investment income increased by 7.5% to $618 million in Q2 2024, compared to $575 million in Q2 2023[3] - The company experienced a net investment loss of $10 million in Q2 2024, an improvement from a loss of $32 million in Q2 2023[3] - Net investment income rose to $239 million in Q2 2024, compared to $229 million in Q2 2023, reflecting an increase of 4.38%[16] - Net investment income for the six months ended June 30, 2024, was $470 million, up from $443 million in the same period of 2023[24] - Net investment income rose by 8% to $154 million for the three months ended June 30, 2024, from $142 million in the prior year[37] - Net investment income for Corporate & Other increased to $18 million in Q2 2024 from $14 million in Q2 2023[41] Premiums and Underwriting - Gross written premiums for Q2 2024 reached $4,072 million, a 4% increase from $3,909 million in Q2 2023[12] - New business generated $595 million in Q2 2024, a 7% increase from $555 million in Q2 2023[12] - Gross written premiums in the commercial segment for Q2 2024 were $1,927 million, a 12% increase from $1,719 million in Q2 2023[14] - New business in the commercial segment reached $405 million in Q2 2024, an 18% increase from $343 million in Q2 2023[14] - Gross written premiums for the three months ended June 30, 2024, were $1,728 million, a decrease of 2% from $1,769 million in the same period of 2023[37] - New business premiums decreased by 22% to $72 million in Q2 2024, down from $92 million in Q2 2023[39] Claims and Expenses - Claims and policyholders' benefits for Q2 2024 totaled $1,882 million, up from $1,779 million in Q2 2023[3] - Total claims, benefits, and expenses for Q2 2024 were $1,221 million, a 12% increase from $1,088 million in Q2 2023[14] - The loss and LAE ratio for Q2 2024 was 68.0%, an increase of 1.8 percentage points from 66.2% in Q2 2023[14] - The net incurred claim and claim adjustment expenses totaled $3,078 million for the six months ended June 30, 2024[52] - The gross claim and claim adjustment expense reserves at the end of the period were $23,974 million[51] - The net claim and claim adjustment expense payments for the six months ended June 30, 2024, were $(2,567) million[52] Financial Ratios - The company reported a return on equity of 13.0% for Q2 2024, consistent with the previous year[10] - The combined ratio for Q2 2024 was 94.8%, an increase of 1.0 percentage points from 93.8% in Q2 2023[12] - The combined ratio improved to 91.9% in Q2 2024, compared to 92.2% in Q2 2023, indicating better underwriting performance[39] - The combined ratio for the company's segments is calculated using the loss ratio, expense ratio, and dividend ratio, providing insights into operational efficiency[53] Assets and Liabilities - Total assets increased to $65,194 million as of June 30, 2024, from $64,711 million on December 31, 2023[34] - Total liabilities rose to $55,320 million as of June 30, 2024, compared to $54,818 million at the end of 2023[34] - Book value per common share decreased slightly to $36.46 as of June 30, 2024, from $36.52 on December 31, 2023[34]

Exposure represents the measure of risk used in the pricing of the insurance product. The change in exposure represents the change in premium dollars on policies that renew as a result of the change in risk of the policy. Retention represents the percentage of premium dollars renewed, excluding rate and exposure changes, in comparison to the expiring premium dollars from policies available to renew. New business represents premiums from policies written with new customers and additional policies written wit ...

Analysts on Wall Street project that CNA Financial (CNA) will announce quarterly earnings of $1.21 per share in its forthcoming report, representing an increase of 7.1% year over year. Revenues are projected to reach $3.08 billion, increasing 5.3% from the same quarter last year. Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 1.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this peri ...

But it can feel overwhelming to pick the right stocks for you and your investing goals with over 800 top-rated stocks to choose from. Growth Score Momentum investors should take note of this Finance stock. CNA has a Momentum Style Score of A, and shares are up 5.1% over the past four weeks. The research service features daily updates of the Zacks Rank and Zacks Industry Rank, full access to the Zacks #1 Rank List, Equity Research reports, and Premium stock screens, all of which will help you become a smarte ...

The best way to find great value stocks is to pair a strong Zacks Rank with an impressive grade in the Value category of our Style Scores system. The Zacks Rank favors stocks with strong earnings estimate revision trends, and our Style Scores highlight companies with specific traits. Value investors are also interested in a number of tried-and-true valuation metrics that help show when a company is undervalued at its current share price levels. Another notable valuation metric for CNA is its P/B ratio of 1. ...

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. One stock to keep an eye on is CNA Financial (CNA) . CNA is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 9.72, while its industry has an average P/E of 27.96. Over the last 12 months, ...

CNA invites shareholders and analysts to submit questions for management in advance of the earnings release. Management may address some or all of these questions in the posted earnings remarks. Questions may be submitted to [email protected]. Press Contacts Analyst Contacts CHICAGO, July 9, 2024 /PRNewswire/ -- CNA Financial Corporation (NYSE: CNA) will report second quarter 2024 results before the market opens on Monday, July 29, 2024. The news release, earnings presentation and financial supplement will ...

Optimistic Growth Projections The consensus estimate for 2025 earnings per share and revenues indicates an increase of 3.1% and 5.7%, respectively, from the corresponding 2024 estimates. The Zacks Consensus Estimate for CNA Financial's 2025 earnings has moved 1.8% north in the past 60 days. This should instill investors' confidence in the stock. CNA Financial has a solid track record of beating earnings estimates in three of the last four quarters while missing in one, the average being 9.72%. CNA currently ...