Markel: 1Q Earnings Snapshot
GLEN ALLEN, Va. (AP) _ Markel Corp. (MKL) on Tuesday reported a first-quarter loss of $1.39 billion, after reporting a profit in the same period a year earlier.
The Glen Allen, Virginia-based company said it had a loss of $100.60 per share. Earnings, adjusted for one-time gains and costs, came to $15.44 per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $9.34 per share.
The insurer posted revenue of $335.7 million in the period. Its adjusted revenue was $2.02 billion.
Markel shares have fallen 21% since the beginning of the year. The stock has fallen 12% in the last 12 months.