Erie Indemnity Company announced robust financial results for the third quarter ended September 30, 2024. The company reported net income of $159.8 million, a substantial increase from $131.0 million in the third quarter of 2023.
Diluted earnings per share for Q3 2024 reached $3.06, up from $2.51 in the prior-year period. Total operating revenue for the quarter grew to $999.9 million, compared to $858.9 million in Q3 2023, driven by a rise in management fee revenue from policy issuance and renewal services.
The company's operating income before taxes increased by $31.7 million, or 21.3 percent, in the third quarter of 2024. Investment income before taxes also saw a notable rise, totaling $19.5 million compared to $12.3 million in the same period last year.
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