RLI Q1 Profit Misses Estimate

(RTTNews) - RLI Corp. (RLI) reported first quarter net earnings of $30.6 million or $0.70 per share, compared to $29.0 million or $0.66 per share for the year-ago quarter.

Operating earnings for the first quarter were $22.0 million or $0.50 per share, compared to $24.7 million or $0.57 per share in the prior year quarter.

Revenue for the first quarter rose 8% to $195.78 million from $181.22 million a year ago. Net premiums earned for the quarter grew 4.9% to $169.0 million.

Analysts polled by Thomson Reuters expected the company to earn $0.54 per share on revenue of $171.02 million for the first quarter. Analysts' estimates typically exclude special items.