Mercury General Corporation (NYSE:MCY) reports 2Q18 Topline Up; Tops Estimate

Mercury General Corporation (NYSE:MCY) announced net income for the second quarter of $ 60.18 million or $ 1.09 per share. The company generated total revenue of $ 885.39 million for the same period. While earnings per share grew 29 percent from the year-ago quarter, revenue advanced 4 percent.

On an adjusted basis, Mercury General Corporation revealed operating income of 88 cents a share for the second quarter. This topped analysts estimate by $ 0.35 a share while total revenue exceeded street analysts expectation by $ 36 million.

Street analysts are looking for income of $ 0.53 per share on total revenue of $ 849.56 million for the second quarter. Analysts estimates are from Thomson Reuters, excludes one time gain or loss.

The Board of Directors declared a quarterly dividend of $0.6250 per share. The dividend will be paid on September 27, 2018 to shareholders of record on September 13, 2018.

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