earnings
confidence high
sentiment neutral
materiality 0.60
Erie Indemnity Q1 net income $68.6M ($1.31 diluted EPS) vs $73.6M ($1.41) YoY; dividend raised
ERIE INDEMNITY CO
- Net income $68.6M, down 6.8% YoY; diluted EPS $1.31 vs $1.41.
- Operating income $84.3M, up 10.8% YoY on management fee revenue growth of 7.1%.
- Management fee revenue (policy issuance) $488.0M, +$32.3M YoY.
- Quarterly dividend raised to $1.11/share from $1.035; payable July 20, 2022.
- All 11 directors re-elected; Equity Compensation Plan approved by shareholders.