Erie Indemnity Company reported a net income of $73.6 million, or $1.41 per diluted share, for the first quarter of 2021, compared to $59.3 million, or $1.13 per diluted share, for the first quarter of 2020.
Net income was $73.6 million, or $1.41 per diluted share, in the first quarter of 2021.
Operating income before taxes decreased $9.6 million, or 11.2 percent, compared to the first quarter of 2020.
Management fee revenue from policy issuance and renewal services increased by $12.0 million, or 2.7 percent, compared to the first quarter of 2020.
Income from investments before taxes totaled $18.0 million compared to a loss from investments of $9.2 million in the first quarter of 2020.
Forward-looking statements are subject to risks and uncertainties that could cause actual events and results to differ materially from those discussed in the report.
Analyze how earnings announcements historically affect stock price performance