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 […]
Axalta Reports Sales Up 13.8% in Third Quarter
Reports year-over-year market gains and continued recovery in Refinish and Mobility coatings segments. Axalta Coating Systems Ltd. (NYSE:AXTA) reported third quarter net sales of $1,238.7 million increased 13.8% year-over-year, after the negative 6.3% foreign currency impact. The strong year-over-year growth was driven by 9.7% higher average price-mix, a 1.6% M&A benefit and 8.8% better volumes. […]
LKQ Corporation Reports Revenue of $3.1 Billion in Third Quarter
LKQ Corporation (NASDAQ:LKQ) today reported Revenue for the third quarter of 2022 was $3.1 billion, a decrease of 5.9% as compared to $3.3 billion in the third quarter of 2021. On a constant currency basis1, third quarter revenue grew by 1.0% to $3.3 billion. Parts and services organic revenue increased 4.8% on a reported basis […]
Driven Brands Revenue Increased 39% in Third Quarter
Reports 9% net store growth and same-store sales up nearly 12%. Driven Brands Holdings Inc. (NASDAQ:DRVN) today reported financial results for the third quarter ended September 24. For the third quarter, revenue increased 39% versus the prior year to $516.6 million. System-wide sales increased 22% versus the prior year to $1.5 billion, with 9% net […]
PPG Reports Record Third Quarter Sales of $4.5 Billion
Refinish sales at record levels as U.S. body shop activity robust. PPG names Tim Knavish president and chief executive officer. Michael H. McGarry to retire next year. PPG (NYSE:PPG) reported record third quarter net sales of $4.5 billion, up about 8% on a constant currency basis. Overall company sales volumes decreased by about 3% versus […]
Allstate Reports Auto Insurance Premiums of $7.9 Billion, Up 9.6% in Third Quarter
The Allstate Corporation (NYSE: ALL) today announced estimated results for the third quarter of 2022 of a net loss between $675 million and $725 million and adjusted net loss estimated between $400 million and $450 million. Property-Liability Premiums written increased 9.8% from Q3 2021 to $12.0 billion due to higher average auto and home insurance […]
Enterprise Holdings Reports Diverse Mobility Portfolio Drives Steady Growth as Revenue Surpasses $30 Billion
Enterprise Holdings Inc. has developed and cultivated a broad portfolio of business lines designed to meet the evolving needs of customers, delivering innovative mobility solutions for both consumers and businesses, as the 65-year-old company places itself at the forefront of building the future of mobility. According to the company, this future-forward approach, coupled with the […]
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