Allstate Corp Q1 profit beats on lower catastrophe losses

Allstate

29/04/2026 22:19

Overview

U.S. insurance provider's Q1 revenue rose 3% yr/yr, beating analyst expectations

Adjusted EPS for Q1 beat analyst expectations

Company cites lower catastrophe losses and reserve releases for improved underwriting results

Outlook

Company did not provide specific guidance for the current quarter or full year

Result Drivers

UNDERWRITING IMPROVEMENT - Lower catastrophe losses and reserve releases led to a stronger property-liability combined ratio and higher underwriting income

POLICY GROWTH - Increased policies in force, especially in auto and homeowners insurance, drove premium and revenue growth

INVESTMENT INCOME - Higher investment income contributed to earnings, reflecting portfolio growth and higher fixed income yields

Company press release: ID:nPn2Fwd1pa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$16.94 bln
$15.10 bln (5 Analysts)
Q1 Adjusted EPS
Beat
$10.65
$7.29 (20 Analysts)
Q1 Adjusted Net Income
Beat
$2.80 bln
$1.90 bln (12 Analysts)
Q1 Net Income
$2.43 bln
Q1 Adjusted Combined Ratio
80.30%


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the property & casualty insurance peer group is "buy"

Wall Street's median 12-month price target for Allstate Corp is $237.50, about 11.9% above its April 29 closing price of $212.33

The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)