Allstate: 1Q Earnings Snapshot
NORTHBROOK, Ill. (AP) _ Allstate Corp. (ALL) on Tuesday reported first-quarter profit of $549 million.
The Northbrook, Illinois-based company said it had net income of $1.59 per share. Earnings, adjusted for non-recurring costs, came to $3.54 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.12 per share.
The insurer posted revenue of $10.08 billion in the period. Its adjusted revenue was $10.54 billion.
Allstate shares have dropped 9% since the beginning of the year, while the Standard & Poor’s 500 index has declined 11%. In the final minutes of trading on Tuesday, shares hit $102.15, a rise of roughly 5% in the last 12 months.