Mercury General Corp. Q2 adjusted earnings Beat Estimates

(RTTNews) - Mercury General Corp. (MCY) reported a profit for its second quarter that increased from the same period last year.

The company's bottom line totaled $60.18 million, or $1.09 per share. This compares with $51.63 million, or $0.93 per share, in last year's second quarter.

Excluding items, Mercury General Corp. reported adjusted earnings of $48.89 million or $0.88 per share for the period.

Analysts had expected the company to earn $0.53 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 3.8% to $885.39 million from $852.85 million last year.

Mercury General Corp. earnings at a glance:

-Earnings (Q2): $48.89 Mln. vs. $37.88 Mln. last year. -EPS (Q2): $0.88 vs. $0.68 last year. -Analysts Estimate: $0.53 -Revenue (Q2): $885.39 Mln vs. $852.85 Mln last year.