ProAssurance: 3Q Earnings Snapshot
BIRMINGHAM, Ala. (AP) _ ProAssurance Corp. (PRA) on Tuesday reported third-quarter net income of $17.2 million.
On a per-share basis, the Birmingham, Alabama-based company said it had profit of 32 cents. Earnings, adjusted for investment gains, came to 30 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.
The medical professional liability insurer posted revenue of $241.9 million in the period. Its adjusted revenue was $242 million, which also beat Street forecasts. Three analysts surveyed by Zacks expected $240.2 million.
ProAssurance shares have fallen nearly 3% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $39.38, a decline of 11% in the last 12 months.