Hartford Q1 Profit Decreases - Quick Facts

(RTTNews) - The Hartford (HIG) reported first-quarter net income of $467 million, down 6% from $495 million in first quarter 2014, due principally to the $49 million decrease in core earnings that was largely offset by a $36 million reduction in net realized capital losses, after-tax and deferred acquisition costs, excluded from core earnings compared with first quarter 2014. Net income per share was $1.08, up 5% from $1.03 last year, as the decrease in net income was more than offset by the accretive impact of share repurchases.

The Hartford reported core earnings of $452 million, down 10%, from prior year. Core earnings per share was $1.04, for the quarter.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.97 for the quarter. Analysts' estimates typically exclude special items.

Revenue was $4.62 billion, compared to $4.61 billion, prior year. Analysts expected revenue of $4.71 billion for the quarter.