RLI Corp (RLI) released earnings for its third quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $95.0 million, or $2.06 per share. This compares with $13.5 million, or $0.29 per share, in last year's third quarter.
Excluding items, RLI Corp reported adjusted earnings of $60.42 million or $1.31 per share for the period.
Analysts on average had expected the company to earn $0.97 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 41.7% to $470.0 million from $331.7 million last year.
RLI Corp earnings at a glance (GAAP) :
-Earnings (Q3): $95.0 Mln. vs. $13.5 Mln. last year.
-EPS (Q3): $2.06 vs. $0.29 last year.
-Revenue (Q3): $470.0 Mln vs. $331.7 Mln last year.
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