National General: 2Q Earnings Snapshot
NEW YORK (AP) _ National General Holdings Corp. (NGHC) on Monday reported second-quarter net income of $44.5 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the New York-based company said it had profit of 34 cents. Earnings, adjusted for non-recurring costs, were 54 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The insurance holding company posted revenue of $1.14 billion in the period.
National General shares have increased 40 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.55, an increase of 34 percent in the last 12 months.