SAINT PETERSBURG, Fla. (AP) — SAINT PETERSBURG, Fla. (AP) — American Coastal Insurance Corporation (ACIC) on Thursday reported fourth-quarter earnings of $4.9 million.
The Saint Petersburg, Florida-based company said it had profit of 10 cents per share. Earnings, adjusted to account for discontinued operations and non-recurring costs, were 12 cents per share.
The property and casualty insurance company posted revenue of $79.3 million in the period.
For the year, the company reported profit of $75.7 million, or $1.54 per share. Revenue was reported as $296.7 million.
American Coastal shares have decreased nearly 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $12.69, a fall of nearly 8% in the last 12 months.
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