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Argo Group: 4Q Earnings Snapshot

PEMBROKE, Bermuda (AP) _ Argo Group International Holdings Ltd. (ARGO) on Monday reported a fourth-quarter loss of $43.6 million, after reporting a profit in the same period a year earlier.

The Pembroke, Bermuda-based company said it had a loss of $1.29 per share. Earnings, adjusted for one-time gains and costs, were 55 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 6 cents per share.

The property and casualty insurance underwriter posted revenue of $402.6 million in the period. Its adjusted revenue was $483.6 million, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $468.5 million.

For the year, the company reported profit of $63.6 million, or $1.83 per share. Revenue was reported as $1.87 billion.

Argo Group shares have increased 0.5 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $67.60, an increase of 31 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