MCY
Mercury General Corporation92.97
-0.34-0.36%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
No earnings call transcript available
Key Stats
Market Cap
5.15BP/E (TTM)
11.72Basic EPS (TTM)
7.93Dividend Yield
0.01%Recent Filings
8-K
Q4 profits double on premium growth
Mercury General posted Q4 net income of $202.5M, up 100% from 2024, with net premiums earned rising 6.9% to $1.45B and combined ratio improving to 88.6%. Full-year results showed $541M net income despite $380M net losses from Palisades and Eaton wildfires, offset by reinsurance and subrogation. Board declared $0.3175 quarterly dividend. Wildfire claims paid: $1.4B.
10-K
FY2025 results
Mercury General drove FY2025 direct premiums written to $6.0B, up 8.8% y/y from $5.5B, with California at 82.1% ($4.9B) accelerating on private passenger auto (60.0% mix, +6.0% y/y) and homeowners (27.3%, +19.2% y/y) rate hikes. Net premiums earned climbed 8.5% to $5.5B, yielding a steady 96.3% combined ratio (72.0% loss, 24.3% expense) despite $508M catastrophe losses net of reinsurance (Palisades/Eaton wildfires offset by $586M subrogation). Q4 momentum shone via $92M favorable prior-year reserve development (auto/homeowners) and $329M pre-tax investment income (4.7% yield). Cash swelled to $1.3B on $1.1B operating flow; $70M dividends paid. Yet California reliance (85% premiums) exposes quarterly results to regulatory rate delays.
10-Q
Q3 FY2025 results
Mercury General posted solid Q3 momentum, with net premiums earned up 6.8% y/y to $1.41B on rate hikes and policy growth in California auto and homeowners, driving net income to $280M or $5.06 diluted EPS—21.5% y/y higher. Losses dropped 4.0% y/y to $883M as the loss ratio improved to 62.6% from 69.5%, fueled by favorable prior-year development and lower frequency, though Q3 cat losses ticked up from Palisades/Eaton fire reserve tweaks. Cash swelled to $1.25B, operations generated $799M YTD (derived), topping last year's $789M, while steady $575M debt ($375M notes at 4.4% due 2027, $200M facility) leaves ample liquidity. Underwriting margins sharpened nicely. Catastrophes strike without warning.
8-K
Q3 profits jump 21%
10-Q
Q2 FY2025 results
Mercury General posted solid Q2 momentum, with net premiums earned up 10.6% y/y to $1.37B, fueled by rate hikes in California homeowners and more auto policies, though ceded premiums rose from wildfire reinsurance. The loss ratio improved to 68.8% from 75.8%, thanks to milder weather claims versus last year's storms, while the combined ratio hit a lean 92.5%. Net income jumped to $166.5M or $3.01/share, boosted by $78.8M in investment income (up 14.2% y/y) and $23.5M realized gains. Cash swelled to $1.12B, with $302.9M operating cash flow offsetting wildfire payouts; debt holds steady at $574M with $50M revolver room. Yet wildfire risks in California linger.
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