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PENN CENTRAL REPORTS PRELIMINARY ESTIMATES OF SECOND QUARTER EARNINGS

 CINCINNATI, July 6 /PRNewswire/ -- The Penn Central Corporation (NYSE: PC) announced that it has made a filing with the Securities and Exchange Commission that sets forth preliminary estimates of certain earnings data for the second quarter of 1993.
 The company preliminarily estimates that for the second quarter of 1993 it will report revenues from continuing operations of approximately $385 million and pre-tax income from continuing operations of approximately $45 million, including a pre-tax gain of $18.5 million from the sale in May of the company's limited partnership interest in Buckeye Partners L.P. These estimated results compare with 1992 second quarter revenue from continuing operations of $342.4 million and pre-tax income from continuing operations of $18.4 million.
 These estimated results include, with respect to the company's insurance operations, 1993 second quarter premiums earned of approximately $305 million, net investment income of approximately $29 million, net realized gains of approximately $8 million, operating income of approximately $43 million and a combined ratio of approximately 97 percent. Included within the company's actual 1992 second quarter results were, with respect to the insurance operations, premiums earned of $244.9 million, net investment income of $27.3 million, net realized gains of $4.5 million, operating income of $34.4 million and a combined ratio of 98.0 percent.
 The Securities and Exchange Commission filing was made in connection with the previously announced secondary public offering of Penn Central common stock by a subsidiary of American Financial Corporation.
 Penn Central is engaged primarily in specialty property and casualty insurance.
 -0- 7/6/93
 /CONTACT: Philip A. Hagel, vice president - treasurer, The Penn Central Corporation, 513-579-6600/
 (PC)


CO: The Penn Central Corporation ST: Ohio IN: INS SU: ERP

BM -- CL008 -- 8513 07/06/93 09:09 EDT
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Publication:PR Newswire
Date:Jul 6, 1993
Words:295
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