W.R. Berkley (WRB) Tops Q1 EPS by 48c, Beats on Revenues

W.R. Berkley (NYSE: WRB) reported Q1 EPS of $1.21, $0.48 better than the analyst estimate of $0.73. Revenue for the quarter came in at $1.93 billion versus the consensus estimate of $1.85 billion.

Fourth quarter highlights included:

• The accident year combined ratio excluding catastrophes during the quarter was 94.2%.
• Investment income attributable to the core investment portfolio increased 12.4%.
• Realized pre-tax gains of $57 million, net of performance-based compensatory costs.(1)
• Estimated tax benefit from tax reform of $21 million, or $0.16 per share.
• Total catastrophe losses were $18 million, including $8 million related to wildfires in California.

For earnings history and earnings-related data on W.R. Berkley (WRB) click here.

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