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NASDAQ:ERIE
Erie Indemnity Company Stock Earnings Reports
$421.53
+3.26 (+0.779%)
At Close: Mar 14, 2025
Erie Indemnity Company Earnings Calls
Q4 2024
Beat
$2.91 (5.43%)
| Release date | Feb 27, 2025 |
| EPS estimate | $2.76 |
| EPS actual | $2.91 |
| EPS Surprise | 5.43% |
| Revenue estimate | 925.117M |
| Revenue actual | 338.575M |
| Revenue Surprise | -63.40% |
Q3 2024
Beat
$3.06 (1.32%)
| Release date | Oct 31, 2024 |
| EPS estimate | $3.02 |
| EPS actual | $3.06 |
| EPS Surprise | 1.32% |
| Revenue estimate | 985.103M |
| Revenue actual | 999.886M |
| Revenue Surprise | 1.50% |
Q2 2024
Beat
$3.13 (21.32%)
| Release date | Jul 25, 2024 |
| EPS estimate | $2.58 |
| EPS actual | $3.13 |
| EPS Surprise | 21.32% |
| Revenue estimate | 933.959M |
| Revenue actual | 988.179M |
| Revenue Surprise | 5.81% |
Q1 2024
Beat
$2.38 (3.93%)
| Release date | Apr 25, 2024 |
| EPS estimate | $2.29 |
| EPS actual | $2.38 |
| EPS Surprise | 3.93% |
| Revenue estimate | 835.614M |
| Revenue actual | 880.506M |
| Revenue Surprise | 5.37% |
Last 4 Quarters for Erie Indemnity Company
Below you can see how ERIE performed 4 days prior and 4 days after releasing the earnings report. Also, you can see the pre-estimates and the actual earnings. This information can give you a slight idea of what you might expect for the next quarter's release.
Q1 2024
Beat
| Release date | Apr 25, 2024 |
| Fiscal end date | Mar 31, 2024 |
| Price on release | $380.26 |
| EPS estimate | $2.29 |
| EPS actual | $2.38 |
| EPS surprise | 3.93% |
| Date | Price |
|---|---|
| Apr 19, 2024 | $381.56 |
| Apr 22, 2024 | $382.21 |
| Apr 23, 2024 | $385.69 |
| Apr 24, 2024 | $382.66 |
| Apr 25, 2024 | $380.26 |
| Apr 26, 2024 | $381.74 |
| Apr 29, 2024 | $378.56 |
| Apr 30, 2024 | $382.66 |
| May 01, 2024 | $382.74 |
| 4 days before | -0.341% |
| 4 days after | 0.652% |
| On release day | 0.389% |
| Change in period | 0.309% |
Q2 2024
Beat
| Release date | Jul 25, 2024 |
| Fiscal end date | Jun 30, 2024 |
| Price on release | $387.51 |
| EPS estimate | $2.58 |
| EPS actual | $3.13 |
| EPS surprise | 21.32% |
| Date | Price |
|---|---|
| Jul 19, 2024 | $377.34 |
| Jul 22, 2024 | $384.26 |
| Jul 23, 2024 | $388.20 |
| Jul 24, 2024 | $383.53 |
| Jul 25, 2024 | $387.51 |
| Jul 26, 2024 | $421.38 |
| Jul 29, 2024 | $426.32 |
| Jul 30, 2024 | $442.63 |
| Jul 31, 2024 | $441.15 |
| 4 days before | 2.70% |
| 4 days after | 13.84% |
| On release day | 8.74% |
| Change in period | 16.91% |
Q3 2024
Beat
| Release date | Oct 31, 2024 |
| Fiscal end date | Sep 30, 2024 |
| Price on release | $448.84 |
| EPS estimate | $3.02 |
| EPS actual | $3.06 |
| EPS surprise | 1.32% |
| Date | Price |
|---|---|
| Oct 25, 2024 | $444.02 |
| Oct 28, 2024 | $450.36 |
| Oct 29, 2024 | $452.87 |
| Oct 30, 2024 | $450.23 |
| Oct 31, 2024 | $448.84 |
| Nov 01, 2024 | $415.18 |
| Nov 04, 2024 | $402.50 |
| Nov 05, 2024 | $408.69 |
| Nov 06, 2024 | $428.01 |
| 4 days before | 1.09% |
| 4 days after | -4.64% |
| On release day | -7.50% |
| Change in period | -3.61% |
Q4 2024
Beat
| Release date | Feb 27, 2025 |
| Fiscal end date | Dec 31, 2024 |
| Price on release | $404.98 |
| EPS estimate | $2.76 |
| EPS actual | $2.91 |
| EPS surprise | 5.43% |
| Date | Price |
|---|---|
| Feb 21, 2025 | $383.46 |
| Feb 24, 2025 | $390.31 |
| Feb 25, 2025 | $396.69 |
| Feb 26, 2025 | $399.67 |
| Feb 27, 2025 | $404.98 |
| Feb 28, 2025 | $428.07 |
| Mar 03, 2025 | $449.69 |
| Mar 04, 2025 | $440.44 |
| Mar 05, 2025 | $447.07 |
| 4 days before | 5.61% |
| 4 days after | 10.39% |
| On release day | 5.70% |
| Change in period | 16.59% |
Erie Indemnity Company Earnings Call Transcript Summary of Q4 2024
Net Income Growth
- Q4 2024 net income reached $152 million ($2.91 per diluted share), up from nearly $111 million ($2.12 per diluted share) in Q4 2023.
- Full-year 2024 net income totaled over $600 million ($11.48 per diluted share), compared to approximately $446 million ($8.53 per diluted share) in 2023.
Operating Income Increase
- Q4 operating income increased by over $40 million (31.7% year-over-year).
- Full-year operating income rose over $156 million (30% year-over-year).
Revenue and Premium Growth
- Management fee revenue for Q4 grew by $97 million (16.1%) and for the year by $452 million (18.5%).
- Direct written premiums for Erie Insurance Exchange grew 16% in Q4 and over 18% for the entire year.
Combined Ratios
- Q4 combined ratio improved to 105.7 from 111.4 in the previous year.
- Full-year combined ratio ended at 110.4, an improvement from 119.1 in 2023.
Policyholder Metrics
- Policies in force increased by 4.8% year-over-year to over 7 million.
- Policyholder retention remained strong at 90.4%.
Dividends
- Over $237 million paid in dividends to shareholders in 2024, with a 7.1% increase in the regular quarterly cash dividend approved for 2025.
Operational Highlights
- Technological Advancements
- Successful migration of several legacy systems to modern cloud platforms, enhancing stability and efficiency.
- Introduction of new services and enhanced products, including improvements to billing and recent launches of Business Auto 2.0 and expanded Workers' Compensation coverage.
- Risk Management
- Experienced lower catastrophe losses in 2024, contributing positively to the combined ratio.
Recognitions
- Workplace Culture
- Recognized as a top 100 employer for workplace culture by the American Opportunity Index.
- The Future Focus Internship Program celebrated for being among the industry's best leadership programs.
- Leadership Appointments
- Announced promotions of Sarah Shine to Executive Vice President of Customer Service and Experience and Cody Cook to Executive Vice President of Claims.
Closing Remarks
The company showcased strong financial growth, a solid operational framework, and commitment to innovation while preparing for its centennial year in 2025. Investors should note the positive trends in financial performance and operational enhancements as indicators of the company's stability and future growth potential.
Erie Indemnity Company Earnings History
Earnings Calendar
FAQ
When is the earnings report for ERIE?
Erie Indemnity Company (ERIE) has scheduled its earnings report for Apr 24, 2025 before the markets open.
What is the ERIE price-to-earnings (P/E) ratio?
ERIE P/E ratio as of Mar 14, 2025 (TTM) is 32.43.
What is the ERIE EPS forecast?
The forecasted EPS (Earnings Per Share) for Erie Indemnity Company (ERIE) for the first fiscal quarter 2025 is $3.19.
What are Erie Indemnity Company's retained earnings?
On its balance sheet, Erie Indemnity Company reported retained earnings of $338.58 million for the latest quarter ending Dec 31, 2024.
What Is an Earnings Report?
An earnings report is usually issued quarterly (Q1, Q2, Q3 & Q4) by public companies to report their performance. Earnings reports typically include net income, earnings per share, earnings from continuing operations, and net sales. Looking at the earnings report investors can start gauge the financial health of the company and make even better decisions whether to buy, sell, or stay in the company. Fundamental analysts and value investors will typically hunt for stocks that continue to show good financial ratios and use a decline as an exit point. One of the most anticipated numbers for analysis is earnings per share because it indicates how much the company earned for its shareholders. The report will also indicate a possible dividend.
Earnings Report Content
Earnings reports generally provide an update of all three financial statements, including the income statement, the balance sheet, and the cash flow statement. These figures are typically measured against previous quarters/years. Furthermore, the earnings report usually includes a summary and analysis from the CEO or company spokesman, alongside a more general view of the financials and future forecast.
What To Know About Earnings Reports?
Announcement of earnings for a stock, particularly for well followed large-capitalization stocks, can move the market. Stock prices can fluctuate wildly on days when the quarterly earnings report is released. Despite good reports, stocks may very well fall if the investors were expecting more or they believe the next quarter will not be as good. Investors always try to be ahead of the market and future earnings/losses are often discounted into the current price of the stock. It is natural for stocks to start to move in either direction a few days before the release of an earnings report.
