Mercury General Corp. Q2 adjusted earnings Miss Estimates

(RTTNews) - Mercury General Corp. (MCY) announced a profit for its second quarter that climbed from last year.

The company's profit came in at $83.25 million, or $1.50 per share. This compares with $60.18 million, or $1.09 per share, in last year's second quarter.

Excluding items, Mercury General Corp. reported adjusted earnings of $41.12 million or $0.74 per share for the period.

Analysts had expected the company to earn $1.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.6% to $979.49 million from $885.39 million last year.

Mercury General Corp. earnings at a glance:

-Earnings (Q2): $41.12 Mln. vs. $48.89 Mln. last year. -EPS (Q2): $0.74 vs. $0.88 last year. -Analysts Estimate: $1.03 -Revenue (Q2): $979.49 Mln vs. $885.39 Mln last year.