It seems the company has done a lot to cut operations and process costs. I think we will hear better numbers than what many think. We only see a small part of the big picture.
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Insurer Allstate Corp (ALL.N) posted a bigger-than-expected quarterly loss on Tuesday as claims related to higher catastrophic events offset gains from strong investment income.
The insurer's adjusted second-quarter loss widened to $4.42 per share from 75 cents a year earlier.
Analysts on an average had expected a loss of $4.18 per share, according to Refinitiv data.
Shares of the company was down about 1% in after-hours trading. The stock has declined 16.6% so far this year.
https://www.washingtonpost.com/business/2023/08/01/earns-allstate/13bfcc32-30ae-11ee-85dd-5c3c97d6acda_story.html
I don't know where some of you are getting your information
$1.35 billion loss
Missed expectations
Stock up $1.71 in after hours. Will soar tomorrow by double that.
I don't care what "forecasts" you Wilson nut hugger paid corporate brown nose handlers want to use to try to spin it....let me say it again for those of you with comprehension problems....
$1.2 BILLION LOSS
Again...
$1.2 BILLION LOSS
Once Again....
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
$1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS $1.2 BILLION LOSS
Are you understanding yet?
This company is a failure.
haha they beat the forecast id--ts!
Allstate Non-GAAP EPS of -$1.30 beats by $2.66, revenue of $13.79B beats by $430M
Aug. 01, 2023 4:26 PM ETThe Allstate Corporation (ALL)By: Deepa Sarvaiya, SA News Editor
Allstate press release (NYSE:ALL): Q2 Non-GAAP EPS of -$1.30 beats by $2.66.
Revenue of $13.79B (+12.8% Y/Y) beats by $430M.
Allstate Non-GAAP EPS of -$1.30 beats by $2.66, revenue of $13.79B beats by $430M
Aug. 01, 2023 4:26 PM ETThe Allstate Corporation (ALL)By: Deepa Sarvaiya, SA News Editor
Allstate press release (NYSE:ALL): Q2 Non-GAAP EPS of -$1.30 beats by $2.66.
Revenue of $13.79B (+12.8% Y/Y) beats by $430M.
Allstate 2Q numbers released on Fox today, losses were 1.2 billion with a “b”!!
Trolls I assume
What is it with the recent "everything is all right, there's donuts in the breakroom" posts?
That last post was that a d-mb metaphor for siemthing
Well I can say that the allstate identity protection is making bank we still have our old contracts from infoarmour and we shrunk our call center down and only hiring what we need. We are pretty much the only business whose making bank and out call center in scottsdale is getting a makeover so that shows just how successful we really are. Our employees bring in donuts and one even oddly brought in milk and cookies/cupcakes. Which was weird
Restoration manager
The company's ravenous desire for new business is what's causing a lot of the problems. New business performs poorly and seems to have higher loss history and poorer retention. On top of that - ridiculous renewal rates are driving off the long term profitable customers. Not to mention drastic cuts in claims personnel which leads to customer defections. It's just an overall recipe for disaster. And when management blatantly lies to Wall Street about how well things are going and how the employees and agents are behind all these changes - it just makes you want to pu-e. Things will come to a head and change sooner or later...but most likely too late to save this sh!t show of a company.