Mercury General Q3 Profit Down - Quick Facts

(RTTNews) - Insurance company Mercury General Corp. (MCY) Monday reported a decrease in third-quarter net income, with lower revenues.

For the three-month period, the company reported net income of $39.5 million or $0.72 per share, compared with $66.2 million or $1.21 per share last year.

Excluding realized investment gains and losses, net of tax, the company reported operating income of $29.03 million or $0.53 per share. On average, four analysts polled by Thomson Reuters expected the company to report earnings per share of $0.67 for the quarter. Analysts' estimates typically exclude one-time items.

Total revenues were $728.6 million, compared with prior year's $731.7 million. Analysts expected the company to generate revenues of $710.67 million.

Further, the company declared a quarterly dividend of $0.6150 per share, payable on December 26, to shareholders of record on December 12.