π Travelers $TRV rockets +8% after Q2 earnings nearly double Wall Street's EPS estimate
The Travelers Companies crushed Q2 expectations Friday, posting adjusted EPS of $10.04 versus the Street's $5.39 estimate β nearly 2x the consensus β while revenue hit $12.15B vs the $11.26B forecast. Lower catastrophe losses and rock-solid underwriting drove the beat, with a combined ratio of just 83.6% (vs ~90% a year ago). CEO Alan Schnitzer made clear TRV won't chase growth by slashing prices, calling that a fool's errand. Not financial advice. Is this disciplined underwriting finally getting the respect it deserves, or just a one-quarter weather fluke?