Allstate (ALL) Tops Q2 EPS by 46c, Approves $2B Buyback

Allstate (NYSE: ALL) reported Q2 EPS of $1.38, $0.46 better than the analyst estimate of $0.92. Revenue for the quarter came in at $9.59 billion versus the consensus estimate of $8.31 billion.

“Allstate continued to provide strong returns to our shareholders during the first half of 2017 through a combination of $257 million in common stock dividends and repurchasing $646 million of outstanding shares. A new $2 billion share repurchase program, approved today, will begin following the completion of our current program and is expected to conclude by February 2019,” said Steve Shebik, chief financial officer. “In addition, with the objective of providing more transparency into the performance of our business, we are planning to adopt a new segment reporting structure effective in the fourth quarter 2017. The new reporting structure will change from our current four segments to seven segments that will include a separate segment for service businesses, broken out from traditional property and casualty, and Allstate Financial will transition to individual segments for Life, Benefits and Annuities.”

For earnings history and earnings-related data on Allstate (ALL) click here.

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