RLI Disappoints with Q4 Earnings, Misses Estimates
RLI Corp. (RLI) reported lower-than-expected fourth-quarter earnings on Wednesday.
* Earnings per share: 41 cents (adjusted), vs. 48 cents consensus estimate
* Revenue: $439.1 million, vs. $436.4 million consensus estimate
Adjusted revenue of $436 million also fell short of expectations.
For the full year, RLI reported:
* Earnings per share: $3.74
* Revenue: $1.67 billion
Analyst Commentary
Analysts attribute the earnings miss to lower-than-expected underwriting income. Despite the disappointing results, RLI's shares were up slightly in premarket trading.
Company Outlook
RLI did not provide specific guidance for the upcoming year but stated it remains confident in its business model and long-term growth prospects.