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CHICAGO Michelin North America Inc. is working with a spinoff of one of the largest insurance companies in the U.S. to leverage data to create safer roads.
Michelin is working with Chicago-based
Arity L.L.C., a mobility and data analytics company created by insurer Allstate Corp., in a partnership designed to leverage data for safer mobility to transform road management, the companies said. Michelin will analyze billions of datapoints to isolate near-miss events and atypical behaviors caused or attributed to road infrastructure, according to a description of the project.
The work will use the data-science capabilities of Michelin s Driving Data to Intelligence business unit that captures, processes and analyzes driving information.
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The Allstate Corp Q1 adjusted earnings of $6.11 per share
NORTHFIELD TOWNSHIP (dpa-AFX) - Below are the earnings highlights for The Allstate Corp (ALL):
-Earnings: -$1.41 billion in Q1 vs. $0.51 billion in the same period last year.
-EPS: -$4.60 in Q1 vs. $1.59 in the same period last year.
-Excluding items, The Allstate Corp reported adjusted earnings of $1.87 billion or $6.11 per share for the period.
-Revenue: $12.45 billion in Q1 vs. $9.87 billion in the same period last year.
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Allstate: Q1 Earnings Snapshot
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NORTHBROOK, Ill. (AP) Allstate Corp. (ALL) on Wednesday reported a first-quarter loss of $1.38 billion, after reporting a profit in the same period a year earlier.
The Northbrook, Illinois-based company said it had a loss of $4.60 per share. Earnings, adjusted for one-time gains and costs, were $6.11 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $3.85 per share.
The insurer posted revenue of $12.45 billion in the period. Its adjusted revenue was $12.03 billion.
Allstate shares have increased 16% since the beginning of the year, while the S&P s 500 index has risen 11%. In the final minutes of trading on Wednesday, shares hit $127.45, a climb of 25% in the last 12 months.
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