STATE AUTO FINANCIAL CORPORATION (NASDAQ:STFC) Files An 8-K Results of Operations and Financial Condition
Item 2.02.
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Results of Operations and Financial Condition.
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“Company”)>issued a press release disclosing the Companys
results of operations for the three month period ended March 31,
2017 (the Release”). The full text of the Release is furnished as
Exhibit 99.1 to this Current Report on Form 8-K.
(loss) from operations per diluted share. Net income (loss) from
operations differs from GAAP net income (loss) only by the
exclusion of realized capital gains (losses), net of applicable
taxes, on investment activity for the periods being reported. For
the three month periods ended March 31, 2017 and 2016, GAAP net
(loss) income was $(0.10)>per diluted share and $0.07>per
diluted share, respectively, while net (loss) income from
operations was $(0.22)>per diluted share and $0.05>per
diluted share for the same respective periods. For the three
month periods ended March 31, 2017 and 2016, realized capital
gains, net of applicable taxes, impacted GAAP net (loss) income
per diluted share by $0.12>and $0.02, respectively.
believes this calculation better indicates the Companys operating
performance than GAAP net income (loss) in that net income (loss)
from operations excludes the sometimes volatile realized capital
gains/losses, net of applicable federal income taxes, that can
produce inconsistent results.
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Section 7.
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Regulation FD
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Item 7.01.
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Regulation FD Disclosure
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2017, at approximately 11:00 a.m., ET, to review the Companys
financial results for the three month period ended March 31,
2017, and to respond to questions from interested investors and
financial analysts. A transcript of the conference call is
furnished as Exhibit 99.2 to this Current Report on Form 8-K.
with the Release, the Company makes available on its website
additional supplemental schedules containing financial
information for the Company. This information is available at
www.stateauto.com by clicking Latest News under the Investors
tab.
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Section 9.
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Financial Statements and Exhibits
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Item 9.01.
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Financial Statements and Exhibits
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(c)
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Exhibits.
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Exhibit No.
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Description of Exhibit
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99.1
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Press release issued by State Auto Financial
Corporation on May 2, 2017, regarding results of operations for the three month period ended March 31, 2017. |
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99.2
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Transcript of conference call held by management of
State Auto Financial Corporation on May 2, 2017. |
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About STATE AUTO FINANCIAL CORPORATION (NASDAQ:STFC)
State Auto Financial Corporation (State Auto Financial) is a property and casualty insurance holding company. The Company is engaged in writing personal, business and specialty insurance. Its segments include personal insurance, business insurance, specialty insurance and investment operations. Its personal insurance, business insurance and specialty insurance are known as insurance segments of the Company. It writes standard insurance covering personal exposures to individuals in the personal insurance segment. The Company writes insurance covering small-to-medium sized commercial exposures in the business insurance segment. The specialty insurance segment offers commercial coverages requiring product underwriting, claims handling and/or risk management services through a distribution channel of retail agents and wholesale brokers, which include program administrators and other sources. Its investment portfolio is managed by its subsidiary, Stateco Financial Services, Inc. STATE AUTO FINANCIAL CORPORATION (NASDAQ:STFC) Recent Trading Information
STATE AUTO FINANCIAL CORPORATION (NASDAQ:STFC) closed its last trading session down -0.58 at 25.40 with 55,204 shares trading hands.
