NORTHBROOK, Ill. (AP) — NORTHBROOK, Ill. (AP) — Allstate Corp. (ALL) on Wednesday reported fourth-quarter net income of $1.49 billion, after reporting a loss in the same period a year earlier.
On a per-share basis, the Northbrook, Illinois-based company said it had profit of $5.52. Earnings, adjusted for non-recurring costs, came to $5.82 per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $3.87 per share.
The insurer posted revenue of $14.83 billion in the period. Its adjusted revenue was $14.91 billion.
For the year, the company reported that its loss narrowed to $188 million, or $1.20 per share. Revenue was reported as $57.39 billion.
Allstate shares have climbed 13% since the beginning of the year, while the S&P’s 500 index has increased nearly 5%. In the final minutes of trading on Wednesday, shares hit $158.60, an increase of 16% in the last 12 months.
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