earnings
confidence high
sentiment neutral
materiality 0.70
Erie Indemnity Q3 net income $84.3M ($1.61 diluted EPS) down 6.6% YoY; operating income up 12%
ERIE INDEMNITY CO
- Net income $84.3M vs $90.2M in Q3 2021; diluted EPS $1.61 vs $1.72.
- Operating income $106.5M, up 12.0% from $95.1M; management fee revenue up 9.3% to $551.7M.
- Investment loss of $0.6M vs income of $20.6M, driven by $4.6M limited partnership losses.
- Dividend declared $1.11 per Class A share, up from $1.035 in Q3 2021.
- Nine-month net income $233.1M ($4.46 diluted EPS) vs $242.8M ($4.64) in 2021.