PEORIA, Ill. (AP) — PEORIA, Ill. (AP) — RLI Corp. (RLI) on Wednesday reported first-quarter net income of $63.2 million.
On a per-share basis, the Peoria, Illinois-based company said it had profit of 68 cents. Earnings, adjusted for one-time gains and costs, came to 92 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The specialty insurance company posted revenue of $407.7 million in the period. Its adjusted revenue was $435.1 million, missing Street forecasts. Five analysts surveyed by Zacks expected $439.2 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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