PEORIA, Ill. (AP) — PEORIA, Ill. (AP) — RLI Corp. (RLI) on Wednesday reported fourth-quarter profit of $40.9 million.
On a per-share basis, the Peoria, Illinois-based company said it had net income of 44 cents. Earnings, adjusted for investment gains, were 41 cents per share.
The results did not meet Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The specialty insurance company posted revenue of $439.1 million in the period. Its adjusted revenue was $436 million, which also fell short of Street forecasts. Five analysts surveyed by Zacks expected $436.4 million.
For the year, the company reported profit of $345.8 million, or $3.74 per share. Revenue was reported as $1.67 billion.
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, source Associated Press News