NORTHBROOK, Ill. (AP) — NORTHBROOK, Ill. (AP) — Allstate Corp. (ALL) on Wednesday reported a first-quarter loss of $320 million, after reporting a profit in the same period a year earlier.
The Northbrook, Illinois-based company said it had a loss of $1.31 per share. Losses, adjusted for non-recurring costs, came to $1.30 per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $1.94 per share.
The insurer posted revenue of $13.79 billion in the period. Its adjusted revenue was $13.77 billion.
Allstate shares have declined 18% since the beginning of the year, while the S&P's 500 index has risen 6.5%. In the final minutes of trading on Wednesday, shares hit $111.50, a decrease of 14% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a ALL">Zacks stock report on ALL at https://www.zacks.com/ap/ALL