Erie Indemnity Q3 2022 Earnings: Revenue Beats Expectations, EPS Lags

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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).
NasdaqGS: ERIE Earnings and Revenue Growth October 29, 2022

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.

Performance of the American insurance industry.

The company’s shares rose 4.6% from a week ago.

Risk analysis

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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This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts only using unbiased methodology and our articles are not intended to be financial advice. It is not a recommendation to buy or sell stocks and does not take into account your objectives or financial situation. Our goal is to bring you targeted long-term analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price-sensitive companies or qualitative materials. Simply Wall St has no position in the stocks mentioned.

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