While suffering an underwriting loss, the industry reported net income of $42.6 Billion, a 25 percent decline from 2015. Private U.S. property/casualty insurers suffered a $4.7 billion net underwriting loss in 2016, following an $8.9 billion net underwriting gain in 2015, and experienced a 25 percent drop in net income after taxes to $42.6 billion from […]
Uni-Select Reports Sales Up 12.6% in First Quarter
Uni-Select Inc. (TSE:UNS), the parent of FinishMaster, reported its financial results for the first quarter ended March 31. The company reported $297.2 million in sales, up 12.6 percent. According to the company, the increase was driven by the sales generated mainly from recent U.S. business acquisitions, resulting in additional sales of $44.5 million or 16.8 […]
Allstate Reports Improved Earnings as Auto Claim Reduction Offsets Increased Catastrophe Losses
Mild winter reduced auto claim expenses. The Allstate Corporation (NYSE:ALL) yesterday reported financial results for the first quarter of 2017. “We are off to a strong start in 2017 on both operating priorities and strategic initiatives. The value of providing customers a broad range of protection products across North America was evident as significant catastrophe […]
LKQ Reports Record Results for First Quarter
Revenue growth of 21.9% to $2.34 billion, Organic Growth for parts and services 4.5% LKQ Corporation (NASDAQ:LKQ) today reported record revenue for the first quarter of 2017 of $2.34 billion, an increase of 21.9 percent as compared to $1.92 billion in the first quarter of 2016. Income from continuing operations for the first quarter of […]
Axalta Releases First Quarter 2017 Earnings
Refinish sales up 5.7 percent excluding foreign currency translation. Axalta Coating Systems Ltd. (NYSE:AXTA) announced its financial results for the first quarter ended March 31. First quarter net sales of $1.0078 billion were driven by volume growth of 8.9 percent, offset partly by 1.2 percent lower average selling prices and by a 2.2 percent negative […]
Fenix Parts Files Third Quarter 2016 Earnings Late, Will Evaluate Strategic Alternatives
Late filing leads to default under credit facility, hires firm to evaluate strategic alternatives Fenix Parts, Inc. (NASDAQ:FENX) announced third quarter 2016 results on March 28. Consolidated net revenues of Fenix Parts were $32.5 million for the third quarter of 2016, compared to $34.2 million in the second quarter of 2016, and $32.2 million on […]
Boyd Group Reports 18 percent Annual Increase in Revenue
Same store sales increased 5.3 percent for the year. The Boyd Group Income Fund (TSE:BYD.UN) today reported its financial results for the three and twelve-month periods ended December 31, 2016. According to the multiple collision repair shop operator, sales increased by 18.1 percent to CA$1.4 billion ($1.05 billion) from CA$1.2 billion ($897.1 million) in 2015, […]
Liberty Mutual Insurance Reports Increasing Auto Premiums and Losses
Global private passenger auto net written premiums up 4.8 percent in 2016. Commercial auto up 8.8 percent. Liberty Mutual Holding Company Inc. (LHMC) and its subsidiaries reported net income of $143 million for the fourth quarter ended December 31, 2016 and $1.006 billion for the year. This represents a decrease of $268 million for the […]
State Farm Announces $5.5 Underwriting Loss in 2016
Overall earned premiums up five percent to $61.7 billion. Auto earned premiums up 6.9 percent to $38.8 billion. The State Farm property-casualty (P-C) companies yesterday reported an underwriting loss of $5.5 billion in 2016 on earned premium of $61.7 billion, compared to an underwriting loss of $2.1 billion on earned premium of $58.6 billion in […]
LKQ Corporation Reports Revenue Up 19.3% in Fourth Quarter
Organic parts and service revenue growth was up 4.8 percent. LKQ Corporation (NASDAQ:LKQ) today announced results for its fourth quarter and full year ended December 31, 2016. Net income for the fourth quarter of 2016 was $86.3 million, a decrease of 9.2 percent compared to $95.1 million 2015. Net income for full year 2016 was […]
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