Cincinnati Financial Corp. Q2 Profit Decreases, But Beats Estimates

(RTTNews) - Cincinnati Financial Corp. (CINF) announced earnings for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $312 million, or $1.98 per share. This compares with $534 million, or $3.38 per share, in last year's second quarter.

Excluding items, Cincinnati Financial Corp. reported adjusted earnings of $204 million or $1.29 per share for the period.

Analysts on average had expected the company to earn $0.96 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.3% to $2.544 billion from $2.605 billion last year.

Cincinnati Financial Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $312 Mln. vs. $534 Mln. last year. -EPS (Q2): $1.98 vs. $3.38 last year. -Revenue (Q2): $2.544 Bln vs. $2.605 Bln last year.