PEORIA, Ill. (AP) — PEORIA, Ill. (AP) — RLI Corp. (RLI) on Wednesday reported fourth-quarter net income of $91.2 million.
The Peoria, Illinois-based company said it had net income of 99 cents per share. Earnings, adjusted for investment gains, came to 94 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The specialty insurance company posted revenue of $465.7 million in the period. Its adjusted revenue was $448.7 million, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $451.2 million.
For the year, the company reported profit of $403.3 million, or $4.37 per share. Revenue was reported as $1.77 billion.
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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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