Benzinga | Apr 29, 2021 04:47PM EDT

Recap: Erie Indemnity Q1 Earnings

Shares of Erie Indemnity (NASDAQ:ERIE) were flat in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 24.78% year over year to $1.41, which missed the estimate of $1.46.

Revenue of $630,177,000 up by 2.18% year over year, which beat the estimate of $627,290,000.

Looking Ahead

Erie Indemnity hasn't issued any earnings guidance for the time being.

Erie Indemnity hasn't issued any revenue guidance for the time being.

Recent Stock Performance

Company's 52-week high was at $266.77

Company's 52-week low was at $154.63

Price action over last quarter: down 8.99%

Company Overview

Erie Indemnity Co primarily performs services on behalf of the Erie Insurance Exchange relating to sales, underwriting, and issuance of policies. Erie Indemnity's results are tied to the performance of the Insurance Exchange, which principally provides automobile and homeowners insurance for individuals, along with multiperil, workers' compensation, and commercial automobile insurance for its commercial clients. Erie Indemnity's management fee is typically 25% of the Exchange's premiums, and this accounts for all of Erie Indemnity's revenue. The company operates exclusively in the United States.