GREENWICH, Conn. — In a story Tuesday about W.R. Berkley Corp.’s earnings — generated by Automated Insights using data from Zacks Investment Research — The Associated Press reported erroneously that adjusted profit was 24 cents. The adjusted profit was instead 36 cents per share and beat the average analyst estimate.
A corrected version of the story is below:
W.R. Berkley beats 3Q profit forecasts
W.R. Berkley posts 3Q profit of $162.1 million, result beats forecasts
GREENWICH, Conn. — W.R. Berkley Corp. (WRB) on Tuesday reported third-quarter earnings of $162.1 million.
The Greenwich, Connecticut-based company said it had net income of $1.26 per share. Earnings, adjusted for investment gains, were 36 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The insurance company posted revenue of $2.03 billion in the period. Its adjusted revenue was $1.85 billion.
W.R. Berkley shares have climbed slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $70.12, an increase of 25 percent in the last 12 months.
Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on WRB at https://www.zacks.com/ap/WRB
Keywords: W.R. Berkley, Earnings Report