EMC Insurance Group Inc. Announces Third Quarter Estimates and Revises 2018 Non-GAAP Operating Income Guidance*
EMC INSURANCE GROUP (EMCI)
Last emc insurance group earnings: 2/7 06:30 am
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Source: GlobeNewswire
*Denotes financial measure not calculated in accordance with generally accepted accounting principles (non-GAAP). See “Definition of Non-GAAP Information and Reconciliation to Comparable GAAP Measure” for additional information. DES MOINES, Iowa, Oct. 30, 2018 (GLOBE NEWSWIRE) -- EMC Insurance Group Inc. (Nasdaq:EMCI) (the “Company”), today announced that third quarter 2018 results were positively impacted by an overall decline in catastrophe and storm losses and an increase in the amount of favorable development experienced on prior years’ reserves. As a result, the Company expects to report net income in the range of $0.87 to $0.91 per share, non-GAAP operating income* in the range of $0.46 to $0.50 per share, and a GAAP combined ratio of approximately 100.0 percent for the third quarter of 2018. “The reinsurance segment is expected to report a significant improvement in results compared to the third quarter of 2017, which was impacted by a record amount of catastrophe and storm
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