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Mercury General Corp. (MCY)
NYSE:MCY
Earnings Data
Report Date
May 06, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
-4Last Year’s EPS
0.78Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 11, 2025
|% Change Since: 4.37%
|Next Earnings Date:May 06, 2025
Earnings Call Sentiment|Neutral
The earnings call highlighted strong financial performance in terms of record operating income, improved combined ratios, and significant premium growth. However, these positive results are overshadowed by the substantial impact of catastrophe losses from wildfires and the expected increase in reinsurance costs, leading to concerns about future financial stability.Company Guidance
During Mercury General Corporation's fourth quarter 2024 conference call, the company reported its highest-ever after-tax operating income of $98 million, driven by rate increases and moderating inflation, which reduced the combined ratio to 91.4% for the quarter and 96% for the year. Catastrophe losses totaled $41 million, impacting the full-year combined ratio by 5.5 points, and excluding these losses, the combined ratio was 88.3% for the quarter and 90.5% for the year. Investment income after tax rose by 15% in the fourth quarter to $61.5 million, spurred by a 16% increase in average investment balances. Net premiums written grew by 16% in the quarter and 20.5% for the full year, reaching $1.3 billion and $5.4 billion, respectively. Looking forward to 2025, the company expects core underlying earnings to offset wildfire-related catastrophe losses, with investment income anticipated to remain near 2024 levels. The company estimates gross catastrophe losses from January wildfires at $1.6 billion and pretax net losses between $155 million and $325 million, with reinstatement premiums of $80 million to $101 million.Record After-Tax Operating Income
The company reported a fourth quarter after-tax operating income of $98 million, the highest in the company's history.
Improved Combined Ratios
The combined ratio for the quarter was 91.4%, and 96% for the year-to-date. Excluding catastrophe losses, the combined ratio was 88.3% for the quarter and 90.5% for the full year.
Strong Investment Income Growth
Investment income after tax was $61.5 million in Q4, increasing by 15% from the prior quarter and 18% from the previous year.
Significant Premium Growth
Net premiums written grew by 16% to $1.3 billion in the quarter and 20.5% to $5.4 billion for the year.
Favorable Personal Auto and Homeowners Results
The personal auto business posted a core underlying combined ratio of 92.1%, and the homeowners business posted a core underlying combined ratio of 76.1% for the full year.
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MCY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MCY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 11, 2025 | $50.09 | $54.74 | +9.28% |
| Oct 29, 2024 | $68.11 | $71.55 | +5.05% |
| Jul 30, 2024 | $58.26 | $59.28 | +1.75% |
| Apr 30, 2024 | $51.43 | $53.43 | +3.89% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Mercury General Corp. (MCY) report earnings?
Mercury General Corp. (MCY) is schdueled to report earning on May 06, 2025, TBA Not Confirmed.
What is Mercury General Corp. (MCY) earnings time?
Mercury General Corp. (MCY) earnings time is at May 06, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MCY EPS forecast?
MCY EPS forecast for the fiscal quarter 2025 (Q1) is -4.
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