SAFECO announced it expects to report an operating loss for the second quarter of between $0.25 and 0.30 per share. This compares with analysts’ current consensus estimate of a loss of $0.19 per share, with some analysts estimating a quarterly loss as high as $0.30 per share.
SAFECO’s core performance – excluding weather and catastrophes – improved compared to the first quarter. The company’s overall financial results were adversely affected by an April hailstorm in St. Louis, Tropical Storm Allison and a series of Midwest storms, which other insurance companies reported will affect their earnings in the second quarter.
SAFECO will announce its full second-quarter financial results on July 23.
Topics Profit Loss
Was this article valuable?
Here are more articles you may enjoy.
Electric Bills in Coal Country West Virginia Now Top Mortgage Payments 
Marsh Aims to Be ‘AI Winner’ by Focusing on Gains in Growth, Productivity, Efficiency 
State Farm Agrees to $15M Settlement for Underpaid Vehicle Claims 
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
