CNA Q4 2017 Earnings Report — CNA Financial Corporation Revenue & Financial Results | Market Cap Arena

CNA Financial CorporationCNA

Q4 2017 Earnings

Reported February 14, 2018

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q4 2017	Q3 2017	Q4 2016	QoQ Change	YoY Change
Revenue	$2.4B	$2.4B	$2.4B	2.1%	2.4%
Op. Income	$410M	$187M	$317M	119.3%	29.3%
Gross Margin	36.1%	25.4%	31.3%	10.7pp	4.9pp
Net Margin	9.1%	6.0%	10.1%	3.1pp	-1.0pp
EPS (Diluted)	$0.82	$0.53	$0.89	54.7%	-7.9%
Free Cash Flow	$338M	$367M	$244M	-7.9%	38.5%

Revenue Flow

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$884M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$474M
Operating Expenses	$474M
Cost & Expenses	$2.0B
OPERATING INCOME	$410M
Interest Income	$0
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$410M
Income Tax Expense	$187M
Net Income from Continuing Ops	$223M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$223M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$223M
D&A	$22M
EBIT	$447M
EBITDA	$469M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$2.4B
Cost of Revenue	$1.6B
GROSS PROFIT	$884M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$0
Other Expenses	$474M
Operating Expenses	$474M
Cost & Expenses	$2.0B
OPERATING INCOME	$410M
Interest Income	$0
Interest Expense	$37M
Other Income/Expenses	$0
INCOME BEFORE TAX	$410M
Income Tax Expense	$187M
Net Income from Continuing Ops	$223M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$223M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$223M
D&A	$22M
EBIT	$447M
EBITDA	$469M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$223M
Depreciation & Amortization	$22M
Stock-Based Compensation	$36M
Deferred Income Tax	$43M
Other Non-Cash Items	-$20M
Change in Working Capital	$127M
OPERATING CASH FLOW	$360M
Capital Expenditure	-$22M
Acquisitions (Net)	-$54M
Purchases of Investments	-$2.3B
Sales/Maturities of Investments	$2.3B
Other Investing Activities	-$117M
NET CASH FROM INVESTING	-$206M
Net Debt Issuance	$0
Common Stock Repurchased	$0
Common Dividends Paid	-$81M
Other Financing Activities	-$1M
NET CASH FROM FINANCING	-$82M
FREE CASH FLOW	$338M
Net Change in Cash	$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$355M
Short-Term Investments	$1.4B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$4.1B
PP&E (Net)	$326M
Goodwill	$148M
Intangible Assets	$72M
Long-Term Investments	$46.0B
Tax Assets	$137M
Other Non-Current Assets	$5.8B
TOTAL NON-CURRENT ASSETS	$52.5B
TOTAL ASSETS	$56.6B
Account Payables	$0
Short-Term Debt	$150M
Deferred Revenue	$0
Other Current Liabilities	$17.6B
TOTAL CURRENT LIABILITIES	$41.6B
Long-Term Debt	$2.7B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$41.5B
TOTAL NON-CURRENT LIABILITIES	$2.7B
TOTAL LIABILITIES	$44.3B
Common Stock	$683M
Additional Paid-In Capital	$2.2B
Retained Earnings	$9.4B
Treasury Stock	-$60M
Accum. Other Comp. Income	$32M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$12.2B
Minority Interest	$0
TOTAL EQUITY	$12.2B
TOTAL LIABILITIES & EQUITY	$56.6B
Total Debt	$2.9B
Net Debt	$2.5B