RLI Corp.: Q2 Earnings Snapshot
PEORIA, Ill. (AP) — PEORIA, Ill. (AP) — RLI Corp. (RLI) on Monday reported second-quarter profit of $77.7 million.
On a per-share basis, the Peoria, Illinois-based company said it had net income of $1.69. Earnings, adjusted for investment gains, were $1.16 per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.20 per share.
The specialty insurance company posted revenue of $381.9 million in the period. Its adjusted revenue was $351.1 million, which also fell short of Street forecasts. Three analysts surveyed by Zacks expected $358.4 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
