Erie Indemnity Co Announces Rise In Q1 Bottom Line, Beats estimates

(RTTNews) - Erie Indemnity Co (ERIE) reported a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings totaled $86.24 million, or $1.65 per share. This compares with $68.62 million, or $1.31 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.48 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.0% to $752.47 million from $672.11 million last year.

Erie Indemnity Co earnings at a glance (GAAP) :

-Earnings (Q1): $86.24 Mln. vs. $68.62 Mln. last year. -EPS (Q1): $1.65 vs. $1.31 last year. -Analyst Estimate: $1.48 -Revenue (Q1): $752.47 Mln vs. $672.11 Mln last year.