Erie Indemnity Co reports results for the quarter ended in June - Earnings Summary

Erie Indemnity

25/07/2024 23:27

* Erie Indemnity Co  ERIE.OQ  reported quarterly adjusted
earnings
of $3.13​​ per share for the quarter ended in June, higher than
the same quarter last year, when the company reported EPS of
$2.25.  The mean expectation of two analysts for the quarter was
for earnings of $2.58 per share. Wall Street expected results to
range from $2.55  to $2.60 per share.
    * Revenue rose 17.9% to $990.44 million from a year ago;
analysts
expected $933.96 million. 
    * Erie Indemnity Co's reported EPS for the quarter was
$3.13​.
    * The company reported quarterly net income of $163.9
million.
    * Erie Indemnity Co shares had risen by 5.8% this
quarter and
gained 14.5% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 0.2%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 1 "strong buy" or "buy," 1
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the property &
casualty
insurance peer group is also "buy"

This summary was machine generated from LSEG data July 25 at
10:27 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      2.58           3.13           Beat
 Mar. 31 2024      2.29           2.38           Beat
 Dec. 31 2023      2.03           2.12           Beat
 Sep. 30 2023      2.06           2.51           Beat