Assurant Inc Q1 Profit Decreases, but beats estimates

(RTTNews) - Assurant Inc (AIZ) announced a profit for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $113.6 million, or $2.12 per share. This compares with $149.0 million, or $2.65 per share, in last year's first quarter.

Excluding items, Assurant Inc reported adjusted earnings of $147.9 million or $2.75 per share for the period.

Analysts on average had expected the company to earn $2.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.5% to $2.64 billion from $2.48 billion last year.

Assurant Inc earnings at a glance (GAAP) :

-Earnings (Q1): $113.6 Mln. vs. $149.0 Mln. last year. -EPS (Q1): $2.12 vs. $2.65 last year. -Analyst Estimates: $2.32 -Revenue (Q1): $2.64 Bln vs. $2.48 Bln last year.