Shares of Hanover Insurance Slump on Lowered Guidance
The Hanover Insurance Group (NYSE: THG) reported earnings on Wednesday. The company posted a second-quarter EPS of $0.22, higher than the $0.19 estimate.
Hanover Insurance held their conference call early on Thursday. In the call, the company lowered its guidance, saying that it anticipated yearly segment income to come in at $2.70-2.90 per share, much lower than the $3.16 estimate and down from the company's previous guidance of $3.85-4.15.
Shares traded down over 2% Thursday morning.
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