Allstate Corporation Intrinsic Value Calculator – ALLSTATE CORPORATION Reports Strong Second Quarter Earnings for FY2023
August 7, 2023
☀️Earnings Overview
On August 1 2023, ALLSTATE CORPORATION ($NYSE:ALL) released its financial results for the second quarter of FY2023. Compared to the same quarter in the prior year, total revenue grew 14.4% to USD 13979.0 million, and net income improved to -1352.0 million from -1015.0 million.
Stock Price
On Tuesday, ALLSTATE CORPORATION reported strong second quarter earnings for FY2023. The stock opened at $112.4 and closed at $113.0, up by 0.3% from its prior closing price of $112.7. The company’s strong second quarter earnings report reflects robust market conditions and successful strategies implemented throughout the year. Allstate’s CEO, Tom Wilson, commented on the company’s performance in a statement released on Tuesday: “We are pleased to report strong nine-month results driven by our commitment to delivering attractive value for our customers and shareholders.” The company’s success is grounded in its focus on innovation and customer experience. Allstate’s product offerings have evolved over the years, enabling the company to provide more comprehensive coverage to its policyholders while also increasing its market share in the insurance industry.
Additionally, Allstate has invested significantly in digital technologies and data analytics to ensure a smoother customer experience. Its market value has increased over the past two years and, if current trends continue, its stock should remain a solid investment for investors in the coming months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Allstate Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 54.62k | -2.75k | -4.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Allstate Corporation. More…
| Operations | Investing | Financing |
| 4.79k | -2.64k | -2.21k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Allstate Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 100.51k | 85.14k | 59.28 |
Key Ratios Snapshot
Some of the financial key ratios for Allstate Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.6% | – | -5.8% |
| FCF Margin | ROE | ROA |
| 8.2% | -11.9% | -2.0% |
Analysis – Allstate Corporation Intrinsic Value Calculator
GoodWhale has conducted an analysis of ALLSTATE CORPORATION‘s wellbeing and found that the intrinsic value of ALLSTATE CORPORATION share is around $139.1 as calculated by our proprietary Valuation Line. This gives investors an advantageous opportunity to buy into ALLSTATE CORPORATION at a discount and benefit from capital appreciation in the future. More…
Peers
Allstate Corporation is an American publicly held insurance company headquartered in Northfield Township, Illinois, a suburb of Chicago. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993. The company also has personal lines insurance operations in Canada. Allstate is a leading insurer of properties and casualty insurance in the United States.
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Summary
Allstate Corporation reported strong second quarter earnings for FY2023 with total revenue up 14.4% year-on-year to USD 13979.0 million. Net income showed substantial improvement from -1015.0 million in the prior year to -1352.0 million. This is encouraging news for investors as it indicates the company’s financial performance is improving.
It remains to be seen whether this upwards trajectory will continue in the coming quarters. Nonetheless, Allstate Corporation looks to be a solid investment opportunity at present for those looking for a relatively safe return.
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