Increase driven by significant rate increases in the Allstate brand and growth at National General. Auto combined ratio of 112.6 in the fourth quarter of 2022 was up 8.3 points from 2021 quarter. The Allstate Corporation (NYSE:ALL) yesterday reported total revenues of $13.6 billion in the fourth quarter of 2022, an increase 4.9% compared to […]
Axalta 2022 Sales Up Over 10% Compared to 2021
Axalta Coating Systems Ltd. (NYSE:AXTA) announced its net sales for the fourth quarter ended December 31, 2022, increased 8.7% year-over-year, including a 5.4% foreign currency headwind. The strong year-over-year growth was driven by 11.7% higher average price-mix, and 2.4% better volumes. Performance Coatings net sales, which includes Refinish, increased 1.8% year-over-year, driven by constant currency growth of […]
PPG Reports Record $17.7 Billion Sales in 2022
Reports U.S. body shop activity continues to be robust. PPG (NYSE:PPG) yesterday reported net sales of $4.2 billion for the fourth quarter, up 5% in constant currencies driven by higher selling prices. Full year sales were approximately $17.7 billion, aided by 8% organic growth. Net sales were higher by 10% in constant currencies, including selling […]
GM Expects North American EVs to be Profitable in 2025 as Capacity Tops 1 Million
At investor meeting, vehicle manufacturer updates 2022 financial guidance and provides performance indicators through 2025. General Motors Co. (NYSE: GM) expects its growing portfolio of electric vehicles will be solidly profitable in 2025 in North America as the company scales electric vehicle (EV) capacity in the region to more than 1 million units annually, ramps […]
Copart Reports First Quarter Revenue Up Over 10%
Copart, Inc. (NASDAQ:CPRT) reported revenue of $893.4 million for its fiscal first quarter ended October 31, an increase in revenue of $83.2 million, or 10.3%, from the same period last year. Gross profit $369.5 million, down $15.5 million, or 4.0%, and net income was $245.8 million, a decrease of $14.5 million, or 5.6%, from the […]
Boyd Group Reports Sales Up Over 27% in Third Quarter Compared to Last Year
Same store sales were up almost 22% during the quarter. Boyd Group Services Inc. (TSE:BYD) announced sales increased by 27.6% to $625.7 million in the third quarter ended September 30 from $490.2 million in the same period of 2021. Same-store sales increased 21.9% during the quarter. The third quarter of 2022 had the same number […]
Berkshire Hathaway Reports GEICO Collision Claims Severity 17-19% Higher in First Nine Months of 2022 Compared to Last Year
Higher used car prices and parts shortages increasing costs of claims. Berkshire Hathaway reported its third quarter 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on November 5. According to the company, GEICO’s pre-tax underwriting losses in 2022 reflected increased claims severities, primarily due to […]
Uni-Select Inc. Reports 2022 Third Quarter and Nine-Month Highlights and Financial Results
FinishMaster U.S. segment reported sales of $189.1 million, with organic growth of 8.1%. Uni-Select Inc. (TSE:UNS) today reported Consolidated sales of $452.7 million for the third quarter ended September 30, up $26.6 million or 6.2% from last year. The results were up 11.6% when the impact of the unfavorable fluctuation of the British pound and […]
CCC Reports Third Quarter Revenue Increased 13% from 2021
CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) today announced total revenue was $198.7 million for the third quarter of 2022 that ended September 30, an increase of 13% from $176.6 million for the third quarter of 2021. “CCC delivered strong third quarter results, highlighted by 13% revenue growth and 39% adjusted EBITDA margin. Our solid performance […]
Allstate Reports Loss in Third Quarter Due to Higher Claims Costs, Reserve Reestimates and Lower Investment Income
Collision claim severity up 17% versus 2021. The Allstate Corporation (NYSE: ALL) reported total revenues of $13.2 billion in the third quarter of 2022 increased 5.8% compared to the prior year quarter reflecting a 9.8% increase in Property-Liability earned premium, partially offset by net losses on investments and derivatives in 2022 compared to net gains […]
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