NORTHBROOK, Ill. (AP) — NORTHBROOK, Ill. (AP) — Allstate Corp. (ALL) on Wednesday reported first-quarter net income of $1.22 billion, after reporting a loss in the same period a year earlier.
The Northbrook, Illinois-based company said it had profit of $4.46 per share. Earnings, adjusted for non-recurring costs, came to $5.13 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $4.11 per share.
The insurer posted revenue of $15.26 billion in the period. Its adjusted revenue was $15.42 billion.
Allstate shares have increased 23% since the beginning of the year, while the S&P’s 500 index has climbed 5%. In the final minutes of trading on Wednesday, shares hit $171.56, a climb of 48% in the last 12 months.
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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 ALL at https://www.zacks.com/ap/ALL
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