NORTHBROOK, Ill. (AP) — NORTHBROOK, Ill. (AP) — Allstate Corp. (ALL) on Wednesday reported third-quarter net income of $1.19 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 $4.33. Earnings, adjusted for non-recurring gains, were $3.91 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.20 per share.
The insurer posted revenue of $16.63 billion in the period. Its adjusted revenue was $16.38 billion.
Allstate shares have increased 35% since the beginning of the year, while the S&P’s 500 index has risen 22%. In the final minutes of trading on Wednesday, shares hit $189.44, a climb of 51% 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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