PEORIA, Ill. (AP) — PEORIA, Ill. (AP) — RLI Corp. (RLI) on Monday reported third-quarter profit of $124.6 million.
On a per-share basis, the Peoria, Illinois-based company said it had net income of $1.35. Earnings, adjusted for investment gains, were 83 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The specialty insurance company posted revenue of $509.3 million in the period. Its adjusted revenue was $449 million, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $446.8 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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