Erie Indemnity (ERIE) Misses Q2 Earnings and Revenue Estimates

Core Viewpoint - Erie Indemnity reported quarterly earnings of $3.34 per share, missing the Zacks Consensus Estimate of $3.55 per share, representing an earnings surprise of -5.92% [1] - The company posted revenues of $1.06 billion for the quarter, missing the Zacks Consensus Estimate by 2.55% [2] Financial Performance - Year-over-year earnings increased from $3.13 per share to $3.34 per share [1] - Revenues increased from $990.44 million a year ago to $1.06 billion [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times and topped consensus revenue estimates two times [2] Stock Performance - Erie Indemnity shares have lost approximately 12.9% since the beginning of the year, while the S&P 500 has gained 7.9% [3] - The current Zacks Rank for the stock is 3 (Hold), indicating expected performance in line with the market in the near future [6] Earnings Outlook - The current consensus EPS estimate for the coming quarter is $3.34 on revenues of $1.08 billion, and for the current fiscal year, it is $12.62 on revenues of $4.16 billion [7] - The estimate revisions trend for Erie Indemnity was mixed ahead of the earnings release [6] Industry Context - The Zacks Industry Rank for Insurance - Brokerage is currently in the bottom 35% of over 250 Zacks industries, which may impact stock performance [8]