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.
Agency Customer Rep and Miami Businessman Killed in Separate Boat Accidents 
Dei Primus Holdings Launches LUCY, a Fully Autonomous Insurance Carrier 
New York Restaurateur Charged In No-Fault Auto Insurance Fraud Scheme 
Tennessee Approves Smallest Drop in Workers’ Compensation Costs in Years 
