Add as a preferred source on GoogleRLI Corp. Beats Third-Quarter EPS Estimates by 33 Cents
Revenue reached $476.9 million, exceeding estimates by $9.8 million despite a 6.4% decline from a year earlier.
RLI Corp. posted third-quarter non-GAAP earnings of $0.86 per share, beating estimates by $0.33, while revenue exceeded forecasts despite falling from a year earlier.
Revenue totaled $476.9 million, or $9.8 million more than expected. Compared with the same quarter a year earlier, revenue declined 6.4%.
The company recorded $58.8 million in underwriting income and a combined ratio of 86.2. Gross premiums written increased 2%, while net investment income rose 13%.
The results put RLI’s earnings and revenue ahead of estimates even as its year-over-year revenue declined. Its premium and investment income measures both increased during the quarter.
John Kim
John Kim reports on the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.