Old Republic International increases its profit in Q3, but misses expectations
Old Republic International announced third quarter earnings that were up from the same period last year, but below Wall Street estimates.
The company's profit amounted to 338.9 million dollars or 1.32 dollars per share. In the third quarter of the previous year, the figure was 52.6 million dollars or 0.19 dollars per share.
Excluding special items, Old Republic International reported adjusted earnings of $182.7 million, or $0.71 per share, for the period.
Analysts had on average expected earnings of 0.73 dollars per share, according to figures from Thomson Reuters. The analysts' estimates generally do not include any special items.
The company's sales rose by 10.1% in the quarter from 1.947 billion US dollars in the previous year to 2.144 billion US dollars.
Old Republic International's earnings at a glance (GAAP):
- Net income (Q3): $338.9 million compared to $52.6 million in the prior year.
- EPS (Q3): USD 1.32 compared to USD 0.19 in the previous year.
- Sales (Q3): USD 2.144 billion compared to USD 1.947 billion in the previous year.