Erie Indemnity Profit Misses Estimate

(RTTNews) - Erie Indemnity Co (ERIE) Thursday reported third-quarter net earnings of $108 million compared with $267 million last year.

After net income attributable to noncontrolling interest, earnings for the quarter were $47 million or $0.90 per share compared with $46 million or $0.87 per share last year.

Analysts polled by Thomson Reuters estimated earnings of $0.93 per share for the quarter. Analysts' estimates typically exclude special items.

Total revenues for the quarter were $1.43 billion compared with $1.58 billion a year ago.

Revenues from management operations for the quarter were $370 million compared with $341 million in the prior year.

Results were largely offset by expenses that rose to $1.28 billion from $1.18 billion last year.