NYSE$CNA

CNA Financial Corporation · Q3 2022 earnings

Q3 2022 earnings · · Investor relations

Briefing

Announced third quarter net income and core income.

CNA Financial Corporation reported a net income of $128 million, or $0.47 per share, and a core income of $213 million, or $0.78 per share, for the third quarter of 2022. The P&C segments showed strong top-line and bottom-line performance.

  • Net income was $128 million, including $85 million of net investment losses.
  • Core income was $213 million, reflecting a decline in investment income from LPs and common stock, partially offset by an increase in investment income from fixed income securities and P&C underwriting income.
  • P&C combined ratio was 95.8%, compared with 100.0% in the prior year quarter.
  • P&C segments, excluding third party captives, generated gross written premium growth of 9%.

Headline financials

Total Revenue

$2.96B

Previous: $2.96B-0.1%
EPS (adj)

$0.78

Previous: $0.87-10.3%
Capital Expenditures

-$41M

Previous: -$16M-156.3%
Free Cash Flow

$87M

Previous: $240M-63.7%
Net Income

$128M

Previous: $256M-50.0%
Operating Income

$478M

Previous: $538M-11.2%
Gross Profit

$901M

Previous: $887M+1.6%
Cash & Equivalents

$503M

Previous: $625M-19.5%
Total Assets

$60.2B

Previous: $66.5B-9.5%

Revenue & EPS history

CNA · Revenue · Quarterly

$2.96B

Q3 2022-0.1%vs Q3 2021
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Forward guidance

CNA Financial remains optimistic about growth opportunities with continued strong pricing and terms and conditions.

Tailwinds

  • Strong top-line performance in P&C segments
  • Strong bottom-line performance in P&C segments
  • Continued strong pricing
  • Continued strong terms
  • Continued strong conditions

Headwinds

  • Pressure on equity markets
  • Elevated industry catastrophe losses
  • Decline in LPs and common stock
  • Higher underwriting expenses
  • Higher claim severity

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 Q3 2022

Historical avgQ3 2022

+0.6%

Avg return

Earnings day

+1.9%

Avg return

5 days after

+0.2%

Avg return

30 days after

54%

33 / 61 earnings

Positive

+8.9%

Q3 2020

Best reaction

-7.9%

Q1 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-7.9%-9.4%-12.8%
Q4 2025-1.4%-2.3%-5.9%
Q3 2025-1.3%+1.5%+3.3%
Q1 2025-0.5%+0.1%-2.7%
Q4 2024+1.2%-0.7%-2.9%
Q3 2024-0.1%+3.8%+4.8%
Q2 2024+2.5%+0.8%+6.8%
Q1 2024-0.5%+1.2%+1.7%
Q4 2023+6.4%+6.0%+2.2%
Q3 2023+2.2%+1.3%+4.7%
Q2 2023-1.1%+4.8%-0.9%
Q1 2023+1.0%+2.6%-5.3%
Q4 2022+5.9%+6.0%-0.0%
Q3 2022+0.6%+0.3%+1.0%
Q2 2022-5.8%-5.7%-9.3%
Q1 2022-4.5%-4.0%-3.9%
Q4 2021+1.9%+1.1%-4.5%
Q3 2021+3.3%+2.2%-6.8%
Q2 2021-0.0%+0.6%+1.3%
Q1 2021+1.5%+3.0%+1.6%
Q4 2020+5.8%+6.0%+12.7%
Q3 2020+8.9%+9.3%+19.6%
Q2 2020-3.0%+2.6%-3.0%
Q1 2020-0.1%+1.3%+8.8%
Q4 2019+8.3%+7.5%-17.2%
Q3 2019-1.5%-1.1%-2.4%
Q2 2019+0.5%+2.4%+0.8%
Q1 2019+2.2%+1.0%-0.6%
Q4 2018-7.1%-4.3%-7.1%
Q3 2018+7.8%+10.3%+4.4%
Q2 2018-3.8%-4.7%-7.2%
Q1 2018+2.5%-0.9%-3.2%
Q4 2017+5.9%+8.9%+6.3%
Q3 2017+6.6%+8.2%+7.3%
Q2 2017+6.8%+7.6%-0.3%
Q1 2017+0.2%+0.8%+0.8%
Q4 2016+0.2%+0.3%+2.8%
Q3 2016+4.3%+3.2%+9.9%
Q2 2016-1.0%+3.0%+4.6%
Q1 2016+3.1%
Q4 2015-7.3%
Q3 2015+0.5%
Q2 2015-1.6%
Q1 2015-1.8%
Q4 2014+4.5%
Q3 2014-0.6%
Q2 2014-2.4%
Q1 2014-6.6%
Q4 2013+7.2%
Q3 2013+2.3%
Q2 2013+2.3%
Q1 2013+1.0%
Q4 2012+0.3%
Q3 2012+2.3%
Q2 2012-3.3%
Q4 2011-1.2%
Q3 2011-0.9%
Q2 2011-2.9%
Q1 2010-1.5%
Q4 2010+1.2%
Q3 2010-2.2%

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