Travelers Earnings Slip and Guidance Is Lowered

Travelers Cos. (TRV) reported second-quarter earnings of $1.35 per diluted share, or $670 million. Earnings for the second quarter of 2009 were $1.27 per share, or $690 million. The company has bought back 106 million common shares since June 2009.

Operating income after taxes for the quarter was $690 million, a decrease of $42 million from a year earlier, the company said in a statement. The drop was primarily due to an $87 million after-tax decrease in the underwriting gain.

"We are modestly lowering the upper end of our full-year 2010 fully diluted operating income per share guidance by 10 cents, resulting in a range of $5.20 to $5.45," CEO Jay Fishman said.
Read Full Story
  • DJI25502.32-460.18-1.77%
  • NIKKEI 22520977.11-650.23-3.01%
    Hang Seng28523.35-590.01-2.03%
  • USD (PER EUR)1.130.00220.19%
    USD (PER CHF)1.01-0.0011-0.11%
    JPY (PER USD)110.230.32000.29%
    GBP (PER USD)1.32-0.0042-0.32%

Can't get enough business news?

Sign up for Finance Report by AOL and get everything from retailer news to the latest IPOs delivered directly to your inbox daily!

Subscribe to our other newsletters

Emails may offer personalized content or ads. Learn more. You may unsubscribe any time.