GLEN ALLEN, Va. (AP) — GLEN ALLEN, Va. (AP) — Markel Group Inc. (MKL) on Wednesday reported first-quarter net income of $1.03 billion.
The Glen Allen, Virginia-based company said it had profit of $75.43 per share. Earnings, adjusted for non-recurring gains, were $18.17 per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $18.50 per share.
The insurer posted revenue of $4.47 billion in the period. Its adjusted revenue was $3.56 billion, also missing Street forecasts. Four analysts surveyed by Zacks expected $3.62 billion.
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