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News Breaks
August 5, 2014
06:45 EDTUFCSUnited Fire & Casualty reports Q2 operating EPS 35c, consensus 31c
Reports Q2 revenue $232.67M, consensus $229.9M
News For UFCS From The Last 14 Days
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October 23, 2014
16:41 EDTUFCSUnited Fire & Casualty sees Q3 EPS (3c)-1c, consensus 43c
The company said, "Catastrophe losses for the third quarter are estimated to add approximately 12 percentage points to the combined ratio, which impacts earnings by approximately $0.59 per share. Although third quarter was a rather benign quarter for catastrophic events, during the latter weeks of the second quarter, a significant number of catastrophic events occurred resulting in more carryover claims than originally anticipated. Third quarter catastrophe losses reflect these carryover claims. As a reminder the numerous catastrophe events during second quarter were geographically disbursed and individually insignificant. The losses in aggregate, however, became significant...We currently expect large losses to impact earnings by approximately $0.61 to $0.65 per share. It is not unusual in any given quarter to receive a multi-million dollar fire claim; however, in third quarter 2014, we experienced eight such events. Some were new claims and some were reserve changes due to additional information from prior events."

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