The Hanover Insurance Group Profit Falls 23% In Q2

(RTTNews) - The Hanover Insurance Group (THG) revealed earnings for second quarter that dropped from last year.

The company said its bottom line came in at $54.0 million, or $1.24 per share. This was lower than $70.4 million, or $1.56 per share, in last year's second quarter.

Analysts had expected the company to earn $1.22 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 6.2% to $1.22 billion. This was down from $1.30 billion last year.

The Hanover Insurance Group earnings at a glance:

-Earnings (Q2): $54.0 Mln. vs. $70.4 Mln. last year. -Earnings Decline (Y-o-Y): -23.3% -EPS (Q2): $1.24 vs. $1.56 last year. -EPS Decline (Y-o-Y): -20.5% -Analysts Estimate: $1.22 -Revenue (Q2): $1.22 Bln vs. $1.30 Bln last year. -Revenue Change (Y-o-Y): -6.2%