Insurance management company Erie Indemnity (NASDAQ:ERIE) will be announcing earnings results this Thursday after the bell. Here’s what to expect.
Erie Indemnity missed analysts’ revenue expectations last quarter, reporting revenues of $951 million, up 2.9% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates.
Is Erie Indemnity a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
Erie Indemnity Total Revenue
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Erie Indemnity has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Erie Indemnity’s peers in the property & casualty insurance segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Progressive delivered year-on-year revenue growth of 8.7%, meeting analysts’ expectations, and W. R. Berkley reported revenues up 4%, falling short of estimates by 1.8%. Progressive traded up 3.5% following the results.
Read our full analysis of Progressive’s results here and W. R. Berkley’s results here.
There has been positive sentiment among investors in the property & casualty insurance segment, with share prices up 6.7% on average over the last month. Erie Indemnity is up 4.4% during the same time.
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