What caused CINF's Q2 2024 EPS to miss expectations?

Cincinnati Financial's (CINF) Q2 2024 EPS missed expectations due to a combination of factors:

1. **Revenue Decline in Workers' Compensation Business**: The revenue by business segment shows a decline in the Workers' Compensation segment, which could be a significant factor contributing to the overall revenue shortfall. This segment's revenue decreased from $183 million in Q1 2024 to $183 million in Q2 2024, which might not be indicative of a trend but highlights a specific business area facing challenges.
2. **Total Revenue Yoy Growth Rate**: The total revenue growth rate for Q2 2024 was -0.02%, which indicates a slight decline in revenue compared to the previous year. This negative growth rate suggests that the company's overall performance was not as strong as expected.
3. **Net Income**: Although the net income for Q2 2024 was $312 million, which is a positive figure, it may not have been sufficient to support the expected earnings per share (EPS) due to the revenue decline. Net income alone does not necessarily correlate with EPS, as the latter is influenced by the company's total revenue and other factors.

In conclusion, CINF's Q2 2024 EPS missed expectations primarily due to a decline in revenue from its Workers' Compensation business and a slight overall revenue decline, despite a stable net income.

|code|Ticker|Name|Date|Total Revenue YoY|Total Revenue|market_code|
|---|---|---|---|---|---|---|
|CINF|CINF.O|Cincinnati Financial|2023 Q3|28.43971631205674|1.811E9|185|
|CINF|CINF.O|Cincinnati Financial|2023 Q4|7.736757624398074|3.356E9|185|
|CINF|CINF.O|Cincinnati Financial|2024 Q1|30.968317715305666|2.935E9|185|
|CINF|CINF.O|Cincinnati Financial|2024 Q2|-2.3416506717850285|2.544E9|185|

|code|Ticker|Name|Date|Net Income YoY|Net Income|market_code|
|---|---|---|---|---|---|---|
|CINF|CINF.O|Cincinnati Financial|2023 Q3|76.20192307692307|-9.9E7|185|
|CINF|CINF.O|Cincinnati Financial|2023 Q4|16.781836130306022|1.183E9|185|
|CINF|CINF.O|Cincinnati Financial|2024 Q1|235.55555555555557|7.55E8|185|
|CINF|CINF.O|Cincinnati Financial|2024 Q2|-41.57303370786517|3.12E8|185|