Mercury General Corp. (MCY) Monday posted a fourth-quarter profit of $79.5 million, or $1.45 per share, making a turnaround from last year's loss of $23.6 million, or a loss of $0.43 per share. Operating income was $32.1 million, or $0.59 per share, this year, while the year-ago operating loss was $8.3 million, or a loss of $0.15 per share.
Six analysts polled by Thomson Reuters estimated earnings of $0.67 per share. Analysts' estimates usually exclude special items.
Revenues for the quarter climbed to $749.5 million from $655.6 million, with net premiums earned contributing $641.6 million in the recent quarter, compared to $640.8 million in the prior year. Three analysts polled by Thomson Reuters estimated revenues of $681.68 million.
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