The Hartford Swings to Q1 Loss
Apr 29th 2013 10:10PM
Updated Apr 30th 2013 12:35AM
Insurance provider The Hartford results have been released for its Q1. For the quarter, total revenues were $9.2 billion, up considerably from the $7.7 billion in the same period the previous year. The story was different on the bottom line, however, with the company swinging to a loss of $241 million ($0.58 per diluted share), after booking a profit of $96 million ($0.18) in Q1 2012. Core earnings fared better, coming in at $456 million in the black during this most recent quarter, which bettered the $426 million of the year-ago period.
The Hartford had recently cautioned that it would see a loss for the period. Much of the shortfall was attributable to a pair of onetime charges totaling nearly $680 million.
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