WASHINGTON (dpa-AFX) - Cincinnati Financial Corp. (CINF) announced a profit for fourth quarter that decreased from last year but beat the Street estimates.
The company's bottom line came in at $405 million, or $2.56 per share. This compares with $1183 million, or $7.50 per share, last year.
Excluding items, Cincinnati Financial Corp. reported adjusted earnings of $497 million or $3.14 per share for the period.
Analysts on average had expected the company to earn $1.87 per share. Analysts' estimates typically exclude special items.
The company's revenue for the period fell 24.4% to $2.538 billion from $3.356 billion last year.
Cincinnati Financial Corp. earnings at a glance (GAAP) :
-Earnings: $405 Mln. vs. $1183 Mln. last year. -EPS: $2.56 vs. $7.50 last year. -Revenue: $2.538 Bln vs. $3.356 Bln last year.
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