RLI Corp.: Q2 Earnings Snapshot
By AP News
Published - Jul 24, 2023, 04:21 PM ET
Last Updated - Jul 24, 2023, 04:21 PM EDT
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.
