Infinity Property And Casualty Tightens FY15 Earnings Outlook

(RTTNews) - Infinity Property and Casualty Corp. (IPCC) Thursday announced a revised earnings guidance for the full year 2015. For the third quarter, the company reported an increase in earnings as revenues increased from the previous year.

For the full year, the company now expects earnings in a range of $4.20 to $4.50 per share, while its earlier projection was in a range of $4 to $4.50 per share. On average, 4 analysts polled by Thomson Reuters expect the company to earn $4.38 per share. Analysts estimates usually exclude special items.

For the third quarter, net income increased to $15.7 million from $14.9 million last year. On a per share basis, earnings increased to $1.38 from $1.29 a year ago. Wall Street expected the company to earn $1.07 per share on revenue of $354.65 million.

Revenue for the quarter rose to $372.4 million from $366.2 million in the previous year.