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Mercury General Corp. Profit Drops In Q4

Mercury General Corp. (MCY) revealed earnings for fourth quarter that lost ground compared to the same period last year.

The company said its profit totaled $8.52 million, or $0.15 per share. This was lower than $31.92 million, or $0.58 per share, in last year's fourth quarter.

Analysts had expected the company to earn $0.34 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 16.2% to $857.25 million. This was up from $737.60 million last year.

Mercury General Corp. earnings at a glance:

-Earnings (Q4): $8.52 Mln. vs. $31.92 Mln. last year.
-Earnings Decline (Y-o-Y): -73.3%
-EPS (Q4): $0.15 vs. $0.58 last year.
-EPS Decline (Y-o-Y): -74.1%
-Analysts Estimate: $0.34
-Revenue (Q4): $857.25 Mln vs. $737.60 Mln last year.
-Revenue Change (Y-o-Y): 16.2%

by RTT Staff Writer

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