W. R. Berkley Corporation Q1 Profit Decreases, misses estimates

(RTTNews) - W. R. Berkley Corporation (WRB) released a profit for first quarter that decreased from last year and missed the Street estimates.

The company's bottom line came in at $294.13 million, or $1.06 per share. This compares with $590.64 million, or $2.12 per share, in last year's first quarter.

Excluding items, W. R. Berkley Corporation reported adjusted earnings of $275.97 million or $1.00 per share for the period.

Analysts on average had expected the company to earn $1.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 0.7% to $2.90 billion from $2.92 billion last year.

W. R. Berkley Corporation earnings at a glance (GAAP) :

-Earnings (Q1): $294.13 Mln. vs. $590.64 Mln. last year. -EPS (Q1): $1.06 vs. $2.12 last year. -Analyst Estimates: $1.23 -Revenue (Q1): $2.90 Bln vs. $2.92 Bln last year.