Core Viewpoint - Allstate's recent earnings report indicates strong performance driven by premium growth and investment income, despite facing challenges from elevated catastrophe losses and rising costs [2][3][4]. Financial Performance - Allstate reported Q4 2024 adjusted net income of 7.67pershare,exceedingtheZacksConsensusEstimateby17.816.71 billion, a 12.1% increase year-over-year, although it slightly missed consensus estimates [2][4]. - For the full year 2024, operating revenues totaled 64.33billion,upfrom57.39 billion in 2023, and adjusted net income surged to 18.32persharefrom0.95 a year ago [4]. Premiums and Investment Income - Consolidated premiums written in Q4 2024 were 15.06billion,reflectingan8.8833 million, a 46.2% increase year-over-year, driven by repositioning into higher-yielding fixed-income securities [5]. Costs and Expenses - Total costs and expenses increased by 8.1% year-over-year to 14billion,primarilyduetohigherpropertyandcasualtyinsuranceclaims[6].−Catastrophelossesrosesignificantlyto410 million from 68millionayearago[6].SegmentPerformance−TheProperty−Liabilitysegment′spremiumsearnedincreasedby10.613.9 billion, although it fell short of estimates by 0.5% [8]. - The Protection Services segment saw revenues of 889million,a23.650 million from 4million[9].−TheAllstateHealthandBenefitssegment′spremiumandcontractchargesimprovedby3.2482 million, but adjusted net income dropped by 41.7% [10][11]. Financial Position - As of December 31, 2024, Allstate had a cash balance of 704millionandtotalassetsof111.6 billion, up from 103.4billionayearearlier[12].−Totalequityincreasedto21.4 billion from 17.6billionattheendof2024[12].−Bookvaluepercommonsharewas72.35, reflecting a 21.8% year-over-year increase [13]. Future Outlook - Allstate anticipates an increase in total Property-Liability policies in 2025 as auto insurance policy renewal rates improve [14]. - However, recent estimates have shown a downward trend, with a consensus estimate shift of -27.35% [15][17].
Aallstate(ALL) ZACKS·2025-03-07 17:37