Erie Compensation (NASDAQ:ERIE) Third quarter 2022 results
Main financial results
- Revenue: $741.2 million (up 7.8% compared to the 3rd quarter of 2021).
- Net profit: 84.3m USD (down 6.6% compared to the 3rd quarter of 2021).
- Profit margin: 11% (compared to 13% in the 3rd quarter of 2021).
- The lower margin was driven by higher expenses.
- EPS: 1.61 USD (compared to 1.73 USD in the 3rd quarter of 2021).
All figures shown in the table above are for the 12 month period (TTM)
Erie Indemnity revenue beats expectations, EPS falls short
Revenue beat analysts’ estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 10%.
Going forward, revenue is expected to grow 3.9% per year on average over the next 2 years, compared to a growth forecast of 5.4% for the US insurance industry.
The company’s shares rose 4.6% from a week ago.
It should be noted, however, that we found 1 warning sign for Erie Indemnity that you need to consider.
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Find out if Erie Indemnity is potentially overvalued or undervalued by viewing our full analysis, which includes fair value estimates, risks and warnings, dividends, insider trading and financial health.
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