PEORIA, Ill. (AP) — PEORIA, Ill. (AP) — RLI Corp. (RLI) on Monday reported first-quarter profit of $127.9 million.
On a per-share basis, the Peoria, Illinois-based company said it had profit of $2.77. Earnings, adjusted for investment gains, came to $1.89 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.63 per share.
The specialty insurance company posted revenue of $444.8 million in the period. Its adjusted revenue was $393.5 million, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $393.8 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RLI at https://www.zacks.com/ap/RLI
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