The Hartford Swings to Q1 Loss
Insurance provider The Hartford results have been released for its Q1. For the quarter, total revenues were $9.2 billion, up considerably from the $7.7 billion in the same period the previous year. The story was different on the bottom line, however, with the company swinging to a loss of $241 million ($0.58 per diluted share), after booking a profit of $96 million ($0.18) in Q1 2012. Core earnings fared better, coming in at $456 million in the black during this most recent quarter, which bettered the $426 million of the year-ago period.
The Hartford had recently cautioned that it would see a loss for the period. Much of the shortfall was attributable to a pair of onetime charges totaling nearly $680 million.
The article The Hartford Swings to Q1 Loss originally appeared on Fool.com.Fool contributor Eric Volkman has no position in The Hartford, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.