Erie Indemnity Q1 net income $124.6M, EPS $2.38; dividend raised to $1.275

ERIE INDEMNITY CO

Net income $124.6M ($2.38 diluted EPS) vs $86.2M ($1.65) in Q1 2023, up 44%.
Operating income $138.8M, up 25.6% YoY on management fee revenue growth.
Management fee revenue (policy issuance/renewal) up 19.3% to $665.7M.
Quarterly dividend increased to $1.275/share (from $1.190), payable July 23; ex-div July 8.
All 11 incumbent directors re-elected; equity and long-term incentive plans approved.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.7

ERIE INDEMNITY CO reported the quarter ended March 31, 2024 results: net income $124.6 million, EPS $2.38 per diluted share.

Period: the quarter ended March 31, 2024
Net income: $124.6 million
EPS: $2.38 per diluted share
Result: reported results

Exact text from the filing

Erie Indemnity Company (the “Company”) issued a press release announcing financial results for the quarter ended March 31, 2024.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ERIE INDEMNITY CO shareholders approved First Amendment to the Company’s Equity Compensation Plan at the 2024-04-23 meeting.

Proposal: equity plan
Outcome: passed
Meeting: 2024-04-23

Exact text from the filing

The First Amendment to the Company’s Equity Compensation Plan was unanimously approved by the 2,540 votes cast.

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ERIE INDEMNITY CO shareholders approved Election of Directors at the 2024-04-23 meeting.

Proposal: director election
Outcome: passed
Meeting: 2024-04-23

Exact text from the filing

the Company held its 99th Annual Meeting of Shareholders (the “Annual Meeting”) on April 23, 2024

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Shareholder Votes SEC 8-K Item 5.07 confidence 0.9

ERIE INDEMNITY CO shareholders approved Amended and Restated Long Term Incentive Plan at the 2024-04-23 meeting.

Proposal: equity plan
Outcome: passed
Meeting: 2024-04-23

Exact text from the filing

The Company’s Amended and Restated Long Term Incentive Plan was also unanimously approved by the 2,540 votes cast.

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364 earnings releases filed in the last 30 days. Browse all earnings releases →

ERIE INDEMNITY CO filing history →

Source: SEC EDGAR

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