Everest Re Group, Ltd. Q1 Profit Increases, but misses estimates

(RTTNews) - Everest Re Group, Ltd. (RE) announced earnings for its first quarter that increased from the same period last year but missed the Street estimates.

The company's earnings totaled $365 million, or $9.31 per share. This compares with $298 million, or $7.56 per share, in last year's first quarter.

Excluding items, Everest Re Group, Ltd. reported adjusted earnings of $443 million or $11.31 per share for the period.

Analysts on average had expected the company to earn $12.51 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.4% to $3.29 billion from $2.90 billion last year.

Everest Re Group, Ltd. earnings at a glance (GAAP) :

-Earnings (Q1): $365 Mln. vs. $298 Mln. last year. -EPS (Q1): $9.31 vs. $7.56 last year. -Analyst Estimate: $12.51 -Revenue (Q1): $3.29 Bln vs. $2.90 Bln last year.