Mercury General Earnings: Everything You Must Know Now
Mercury General Corporation (NYSE:MCY) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Mercury General Corporation Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 231.58% to $0.63 in the quarter versus EPS of $0.19 in the year-earlier quarter.
Revenue: Rose 2.75% to $665.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Mercury General Corporation reported adjusted EPS income of $0.63 per share. By that measure, the company missed the mean analyst estimate of $0.64. It missed the average revenue estimate of $713.38 million.
Key Stats (on next page)…
Revenue decreased 10.09% from $740.15 million in the previous quarter. EPS decreased 8.7% from $0.69 in the previous quarter.
Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.58 to a profit $0.60. For the current year, the average estimate has moved up from a profit of $2.29 to a profit of $2.60 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)