Hartford Financial Services Group
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Hartford Financial Services Group missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped and GAAP earnings per share contracted significantly.
Margins dropped across the board.
Hartford Financial Services Group logged revenue of $5.64 billion. The three analysts polled by S&P Capital IQ wanted to see a top line of $5.87 billion. Sales were 6.9% lower than the prior-year quarter's $6.06 billion.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.69. The 18 earnings estimates compiled by S&P Capital IQ averaged $0.62 per share on the same basis. GAAP EPS of $0.24 for Q4 were 81% lower than the prior-year quarter's $1.29 per share.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was 22.0%, 1,340 basis points worse than the prior-year quarter. Operating margin was 4.4%, 1,160 basis points worse than the prior-year quarter. Net margin was 2.3%, 790 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $5.63 billion. On the bottom line, the average EPS estimate is $0.83.
Next year's average estimate for revenue is $23.81 billion. The average EPS estimate is $3.30.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Hartford Financial Services Group is outperform, with an average price target of $25.21.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. 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.