Allstate: 2Q Earnings Snapshot
NORTHBROOK, Ill. (AP) _ Allstate Corp. (ALL) on Tuesday reported second-quarter profit of $851 million.
On a per-share basis, the Northbrook, Illinois-based company said it had net income of $2.44. Earnings, adjusted for non-recurring gains, came to $2.18 per share.
The results exceeded Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of $1.48 per share.
The insurer posted revenue of $11.14 billion in the period. Its adjusted revenue was $10.82 billion.
Allstate shares have risen 23% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. In the final minutes of trading on Tuesday, shares hit $101.83, an increase of almost 8% in the last 12 months.