Erie Indemnity Co Announces 9% Rise In Q2 Profit

(RTTNews) - Erie Indemnity Co (ERIE) reported a profit for its second quarter that climbed from last year.

The company said its bottom line advanced to $61.31 million, or $1.17 per share. This was up from $56.15 million, or $1.07 per share, in last year's second quarter.

Analysts had expected the company to earn $1.05 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 22.5% to $85.76 million. This was up from $69.98 million last year.

Erie Indemnity Co earnings at a glance:

-Earnings (Q2): $61.31 Mln. vs. $56.15 Mln. last year. -Earnings Growth (Y-o-Y): 9.2% -EPS (Q2): $1.17 vs. $1.07 last year. -EPS Growth (Y-o-Y): 9.3% -Analysts Estimate: $1.05 -Revenue (Q2): $85.76 Mln vs. $69.98 Mln last year. -Revenue Change (Y-o-Y): 22.5%