Erie Indemnity Co Q1 Income Rises, Beats estimates

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

The company's bottom line came in at $124.55 million, or $2.38 per share. This compares with $86.24 million, or $1.65 per share, in last year's first quarter.

Analysts on average had expected the company to earn $2.29 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 17.0% to $880.70 million from $752.47 million last year.

Erie Indemnity Co earnings at a glance (GAAP) :

-Earnings (Q1): $124.55 Mln. vs. $86.24 Mln. last year. -EPS (Q1): $2.38 vs. $1.65 last year. -Revenue (Q1): $880.70 Mln vs. $752.47 Mln last year.