Erie Indemnity Co (ERIE) released a profit for its first quarter that increased from last year and beat the Street estimates.
The company's bottom line came in at $124.55 million, or $2.38 per share. This compares with $86.24 million, or $1.65 per share, in last year's first quarter.
Analysts on average had expected the company to earn $2.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 17.0% to $880.70 million from $752.47 million last year.
Erie Indemnity Co earnings at a glance (GAAP) :
-Earnings (Q1): $124.55 Mln. vs. $86.24 Mln. last year.
-EPS (Q1): $2.38 vs. $1.65 last year.
-Revenue (Q1): $880.70 Mln vs. $752.47 Mln last year.
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