Allstate loses $1.3 billion in fiscal year

 
Posted2/2/2023 2:45 PM

NORTHBROOK -- Allstate Corp. reported a fourth-quarter loss of $284 million, after reporting a profit in the same period a year earlier.

For the fiscal year, the company reported a loss of $1.31 billion, or $5.22 per share. Revenue was reported as $52.48 billion.

 

On a per-share basis, the insurer said it had a loss of $1.17 in the fourth quarter. Losses, adjusted for nonrecurring gains, came to $1.36 per share. Allstate posted revenue of $13.65 billion in the period. Its adjusted revenue was $13.55 billion.

Allstate shares have declined 5.5% since the beginning of the year, while the S&P's 500 index has climbed slightly more than 7%.

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