Amerisafe in Louisiana Reports Higher Than Expected Earnings

Amerisafe Inc. (AMSF) reported second-quarter net income of $23.9 million.

On a per-share basis, the Deridder, Louisiana-based company said it had net income of $1.24. Earnings, adjusted for non-recurring gains, came to $1 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The insurance provider posted revenue of $89.1 million in the period. Its adjusted revenue was $83.3 million.

Amerisafe shares have decreased 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $63.98, a drop of 2.5% in the last 12 months.