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Allstate: 1Q Earnings Snapshot

May 5, 2020 GMT

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.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ALL at https://www.zacks.com/ap/ALL

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