Shares of RLI Corp (NYSE: RLI) plummeted by 6.88% in after-hours trading on Wednesday, following the company's disappointing fourth-quarter 2024 earnings report. The insurance provider's financial results fell short of analysts' expectations, triggering the steep sell-off.
For the quarter ended December 31, 2024, RLI Corp reported operating earnings of $0.41 per diluted share, significantly lower than the analyst consensus estimate of $0.52 per share. Revenue came in at $439.1 million, missing the expected $473.5 million.
The earnings miss caught investors off guard, as the company had been delivering strong performance in recent years. Analysts cited concerns over RLI Corp's ability to maintain profitability and growth in the face of increasing competition and economic challenges.
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