Erie Indemnity Co Bottom Line Drops In Q1, misses estimates

(RTTNews) - Erie Indemnity Co (ERIE) announced a profit for first quarter that decreased from the same period last year and missed the Street estimates.

The company's bottom line totaled $68.62 million, or $1.31 per share. This compares with $73.57 million, or $1.41 per share, in last year's first quarter.

Analysts on average had expected the company to earn $1.42 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.7% to $672.11 million from $630.18 million last year.

Erie Indemnity Co earnings at a glance (GAAP) :

-Earnings (Q1): $68.62 Mln. vs. $73.57 Mln. last year. -EPS (Q1): $1.31 vs. $1.41 last year. -Analyst Estimates: $1.42 -Revenue (Q1): $672.11 Mln vs. $630.18 Mln last year.