Mercury General (MCY) Misses Q4 EPS by 47c, Revenues Miss

Mercury General (NYSE: MCY) reported Q4 EPS of ($0.26), $0.47 worse than the analyst estimate of $0.21. Revenue for the quarter came in at $816.62 million versus the consensus estimate of $906.47 million.

Catastrophe losses before reinsurance benefits totaled approximately $255 million and $109 million for the three months ended December 31, 2018 and 2017, respectively, and approximately $289 million and $168 million for the twelve months ended December 31, 2018 and 2017, respectively. 2018 catastrophe losses were primarily due to wildfires in Northern and Southern California. Weather-related catastrophes across several states made up the remainder of the 2018 catastrophe losses. 2017 catastrophe losses were primarily due to wildfires in Northern and Southern California, severe rainstorms in California, and the impact of hurricanes in Texas, Florida and Georgia.

For earnings history and earnings-related data on Mercury General (MCY) click here.

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