WORCESTER, Mass. (AP) — WORCESTER, Mass. (AP) — The Hanover Insurance Group Inc. (THG) on Wednesday reported first-quarter net income of $186.8 million.
On a per-share basis, the Worcester, Massachusetts-based company said it had net income of $5.20. Earnings, adjusted for investment costs, came to $5.25 per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $4.14 per share.
The insurance company posted revenue of $1.7 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $1.72 billion.
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