Meadowbrook Insurance Group (MIG) Misses Q1 EPS by 9c; Reaffirms FY12

Meadowbrook Insurance Group (NYSE: MIG) reported Q1 EPS of $0.15, $0.09 worse than the analyst estimate of $0.24. Revenue for the quarter came in at $216.2 million versus the consensus estimate of $216.52 million.

First quarter 2012 results include the previously announced increase in net ultimate loss estimates for accident years 2011 and prior of ($6.6 million), or ($0.13) per diluted share; which compares to first quarter 2011 results that include a decrease in the net ultimate loss estimates for accident years 2010 and prior of $2.1 million, or $0.04 per diluted share.

Meadowbrook Insurance Group sees FY2012 EPS at low end of $0.90-$1.00 guidance, versus the consensus of $0.86.

For earnings history and earnings-related data on Meadowbrook Insurance Group (MIG) click here.

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