Shares of Mercury General MCY fell 2% in pre-market trading after the company reported Q1 results.
Quarterly Results
Earnings per share increased 22.99% over the past year to $1.07, which beat the estimate of $0.88.
Revenue of $708,311,000 lower by 30.42% year over year, which missed the estimate of $972,870,000.
Looking Ahead
Mercury General hasn't issued any earnings guidance for the time being.
Revenue guidance hasn't been issued by the company for now.
Conference Call Details
Date: May 04, 2020
Webcast URL: https://www.mercuryinsurance.com/investor-information/
Price Action
Company's 52-week high was at $65.22
52-week low: $33.45
Price action over last quarter: down 23.25%
Company Overview
Mercury General Corp is an insurance holding company operating in the property-casualty market, where it focuses on low-cost auto insurance for individuals, with operations in nearly 13 United States of America states. However, most of its business--about 75% of premiums--comes from California, where it was established by George Joseph, the current company chairman and majority owner. Its insurance is distributed exclusively through independent agents.
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