NYSE$ALL
Allstate Corp · Q4 2023 earnings
Q4 2023 earnings · · Investor relations
Briefing
Allstate reported strong profitability in Q4 2023, driven by improved auto profitability and mild weather conditions.
Allstate's Q4 2023 results showed a significant turnaround with a net income of $1.5 billion, compared to a loss in the prior year quarter. This was driven by improved underwriting performance and higher investment income, resulting in adjusted net income of $1.5 billion, or $5.82 per diluted common share. Property-Liability written premiums increased, and the combined ratio improved significantly.
- Net income reached $1.5 billion, a substantial improvement from the prior year's loss, attributed to better auto profitability and favorable weather.
- Adjusted net income was $1.5 billion, or $5.82 per diluted common share, driven by enhanced underwriting performance and increased investment income.
- Property-Liability written premiums grew to $12.6 billion, reflecting a 10.1% increase year-over-year, boosted by rate increases in auto and home insurance and policy growth at National General.
- The Property-Liability combined ratio improved to 89.5, indicating stronger underwriting profitability.
Headline financials
Revenue & EPS history
Allstate · Revenue · Quarterly
$14.8B
Revenue by segment
Allstate · $607M total across 4 segments · Q1 2023
- Protection Plans$385M—63.4%
- Dealer Services$148M—24.4%
- Arity$37M—6.1%
- Identity Protection$37M—6.1%
Forward guidance
Allstate is focused on improving profitability and generating long-term profitable growth through strategic actions and a comprehensive profit improvement plan.
Tailwinds
- Continued implementation of rate increases to keep pace with loss trends and improve margins.
- Expansion of customer access and leveraging technology to generate higher growth.
- Focus on increasing Allstate exclusive agent bundling and productivity.
- Growth through independent agents via National General's distribution capacity and broader product portfolio.
- Broadening protection solutions in the U.S. and through international growth via Allstate Protection Plans.
Headwinds
- Inflation in loss costs impacting auto insurance results.
- Decline in policies in force due to profitability actions in personal auto and commercial lines in some states.
- Historically elevated claim severity levels.
- Lower valuation increases and less income from the sale of underlying investments in performance-based investment income.
- Potential for adverse reserve development related to claims in litigation.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q4 2023
+0.3%
Avg return
Earnings day
+0.6%
Avg return
5 days after
+2.1%
Avg return
30 days after
53%
39 / 73 earnings
Positive
+5.7%
Q2 2025
Best reaction
-9.9%
Q2 2015
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.0% | +2.9% | -2.8% | |
| Q4 2025 | +3.9% | -2.9% | +2.5% | |
| Q3 2025 | +1.5% | +6.5% | +3.9% | |
| Q2 2025 | +5.7% | +6.9% | +5.8% | |
| Q1 2025 | -0.6% | +1.8% | +5.8% | |
| Q4 2024 | -0.6% | -1.9% | +4.0% | |
| Q3 2024 | -0.0% | -2.3% | +11.2% | |
| Q2 2024 | +2.2% | -2.6% | +8.8% | |
| Q1 2024 | -0.5% | +0.0% | -1.5% | |
| Q4 2023 | +2.8% | +1.3% | -0.3% | |
| Q3 2023 | +2.5% | +1.9% | +7.5% | |
| Q2 2023 | -5.5% | -2.5% | -4.3% | |
| Q1 2023 | +1.5% | +3.3% | -2.1% | |
| Q4 2022 | +2.7% | -7.6% | -0.3% | |
| Q3 2022 | -1.4% | +2.4% | +4.1% | |
| Q2 2022 | -1.5% | +2.2% | +5.0% | |
| Q1 2022 | +1.4% | -0.6% | +1.7% | |
| Q4 2021 | +2.5% | +5.1% | +7.4% | |
| Q3 2021 | -6.5% | -6.5% | -13.5% | |
| Q2 2021 | -2.1% | +1.5% | +2.5% | |
| Q1 2021 | +3.7% | +5.2% | +6.6% | |
| Q4 2020 | -3.3% | -3.1% | +0.7% | |
| Q3 2020 | -2.7% | +1.0% | +12.3% | |
| Q2 2020 | -1.5% | +0.7% | -3.0% | |
| Q1 2020 | +1.1% | +0.4% | +1.5% | |
| Q4 2019 | +4.7% | +4.5% | -8.9% | |
| Q3 2019 | -1.5% | -0.7% | +5.1% | |
| Q2 2019 | +5.5% | +2.7% | +0.4% | |
| Q1 2019 | -0.8% | -1.4% | -3.6% | |
| Q4 2018 | +4.2% | +4.1% | +5.0% | |
| Q3 2018 | -5.8% | -5.3% | -6.6% | |
| Q2 2018 | +2.5% | +3.4% | +5.7% | |
| Q1 2018 | -3.8% | -3.4% | -4.4% | |
| Q4 2017 | -6.8% | -6.1% | -0.6% | |
| Q3 2017 | +4.3% | +5.6% | +9.8% | |
| Q2 2017 | +3.5% | +3.5% | -0.5% | |
| Q1 2017 | +0.6% | -0.9% | +2.0% | |
| Q4 2016 | +2.9% | +3.8% | +8.8% | |
| Q3 2016 | +1.3% | -0.5% | +5.1% | |
| Q2 2016 | +0.7% | +1.6% | +1.2% | |
| Q1 2016 | +3.8% | — | — | |
| Q4 2015 | +3.5% | — | — | |
| Q3 2015 | +2.1% | — | — | |
| Q2 2015 | -9.9% | — | — | |
| Q1 2015 | -3.6% | — | — | |
| Q4 2014 | +0.4% | — | — | |
| Q3 2014 | +1.1% | — | — | |
| Q2 2014 | +2.5% | — | — | |
| Q1 2014 | +1.2% | — | — | |
| Q4 2013 | +4.9% | — | — | |
| Q3 2013 | -0.6% | — | — | |
| Q2 2013 | +2.6% | — | — | |
| Q1 2013 | -2.1% | — | — | |
| Q4 2012 | +1.7% | — | — | |
| Q3 2012 | -2.7% | — | — | |
| Q4 2011 | +4.7% | — | — | |
| Q2 2012 | +4.7% | — | — | |
| Q1 2012 | +2.5% | — | — | |
| Q3 2011 | -3.9% | — | — | |
| Q2 2011 | -0.3% | — | — | |
| Q1 2011 | -1.3% | — | — | |
| Q4 2010 | -0.1% | — | — | |
| Q3 2010 | -6.9% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q1 2009 | +0.0% | — | — | |
| Q1 2010 | +1.3% | — | — | |
| Q4 2009 | -0.1% | — | — | |
| Q4 2007 | -0.1% | — | — | |
| Q3 2009 | -2.3% | — | — | |
| Q3 2008 | -2.3% | — | — | |
| Q2 2009 | +0.5% | — | — | |
| Q2 2008 | +0.5% | — | — | |
| Q4 2008 | +0.5% | — | — |
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