Argo Group: 3Q Earnings Snapshot
PEMBROKE, Bermuda (AP) _ Argo Group International Holdings Ltd. (ARGO) on Wednesday reported a third-quarter loss of $25.1 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Pembroke, Bermuda-based company said it had a loss of 73 cents. Losses, adjusted for investment costs, came to 44 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 3 cents per share.
The property and casualty insurance underwriter posted revenue of $487.4 million in the period. Its adjusted revenue was $493.6 million, surpassing Street forecasts. Three analysts surveyed by Zacks expected $483.4 million.
Argo Group shares have decreased slightly more than 4% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $64.26, a decline of slightly more than 3% in the last 12 months.