FAIRFIELD, Ohio (AP) — FAIRFIELD, Ohio (AP) — Cincinnati Financial Corp. (CINF) on Monday reported fourth-quarter profit of $1.01 billion.
The company, which is based in Fairfield, Ohio, reported a profit of $6.40 per share. The earnings adjusted for investment gains came to $1.27 a share.
Wall Street did not expect the results. Zacks Investment Research surveyed eight analysts and found that they expected earnings of $1.28 per shares.
In the same period, revenue from the insurer was $3.11 billion. Its adjusted revenue was $2.09 trillion, which is higher than Street forecasts. Zacks surveyed three analysts and found that they expected $2.07 trillion.
The company posted a loss of $486million, or $3.06 per shares, for the year. This was a significant swing to a loss over the entire period. Revenue was $8.02 billion.