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Argo Group: 3Q Earnings Snapshot

PEMBROKE, Bermuda (AP) _ Argo Group International Holdings Ltd. (ARGO) on Monday reported third-quarter net income of $40.6 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Pembroke, Bermuda-based company said it had net income of $1.17. Earnings, adjusted for investment gains, were 68 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The property and casualty insurance underwriter posted revenue of $498.9 million in the period. Its adjusted revenue was $484.7 million, also topping Street forecasts. Three analysts surveyed by Zacks expected $462.8 million.

Argo Group shares have climbed 15 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $61.48, a rise of 15 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARGO at https://www.zacks.com/ap/ARGO