Allstate: 4Q Earnings Snapshot
NORTHBROOK, Ill. (AP) _ Allstate Corp. (ALL) on Tuesday reported a fourth-quarter loss of $269 million, after reporting a profit in the same period a year earlier.
The Northbrook, Illinois-based company said it had a loss of 91 cents per share. Earnings, adjusted for non-recurring costs, were $1.24 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The insurer posted revenue of $9.48 billion in the period. Its adjusted revenue was $10.38 billion, also beating Street forecasts. Three analysts surveyed by Zacks expected $8.71 billion.
Allstate shares have risen roughly 8 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 9 percent. In the final minutes of trading on Tuesday, shares hit $88.96, a drop of slightly more than 6 percent in the last 12 months.