Yahoo Finance Mercury General First Quarter 2024 Earnings: Beats Expectations
Mercury General (NYSE:MCY) First Quarter 2024 Results
Key Financial Results
Revenue: US$1.27b (up 15% from 1Q 2023).
Net income: US$73.5m (up from US$45.3m loss in 1Q 2023).
Profit margin: 5.8% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue.
EPS: US$1.33 (up from US$0.82 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Mercury General Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates significantly.
Looking ahead, revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company's shares are down 1.7% from a week ago.
Risk Analysis
It is worth noting though that we have found 1 warning sign for Mercury General that you need to take into consideration.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
