NYSE$MCY
Mercury General Corporation · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Mercury General experienced a net loss for Q2 2023, impacted by catastrophe losses, but saw increased net investment income and implemented rate increases.
Mercury General Corporation reported a net loss of $41.543 million for the second quarter of 2023, compared to a net loss of $210.681 million in the same period of 2022. The company's combined ratio was 110.1%, and it faced catastrophe losses of $92 million. However, net investment income increased, and the company is implementing rate increases to improve underwriting results.
- Mercury General reported a net loss of $41.543 million for Q2 2023.
- Catastrophe losses, net of reinsurance, amounted to $92 million.
- The combined ratio for Q2 2023 was 110.1%.
- Net investment income increased due to higher average yield and invested assets.
Headline financials
Revenue & EPS history
Mercury General · Revenue · Quarterly
$1.08B
Revenue by segment
Mercury General · $1.1B total across 3 segments · Q2 2023
- Net premiums earned$1.03B+4.8%93.8%
- Net investment income$58.4M+74.1%5.3%
- Other$10.2M+580.9%0.9%
Forward guidance
Mercury General is implementing rate and non-rate actions to improve underwriting results, but rate increases take time to earn in.
Tailwinds
- Rate increases implemented in 2023 for California Personal Auto (14.4%).
- Rate increases implemented in 2023 for California Homeowners (12.6%).
- Rate increases implemented in 2023 for California Commercial Auto (13.0%).
- Rate increases implemented in 2023 for Personal Auto Outside of California (7.6%).
- Rate increases implemented in 2023 for Homeowners Outside of California (9.7%).
Headwinds
- Rate increases pending regulatory approval for California Personal Auto (20.8%).
- Rate increases pending regulatory approval for California Homeowners (7.0%).
- Rate increases pending regulatory approval for California Commercial Auto (14.9%).
- Rate increases pending regulatory approval for Personal Auto Outside of California (5.2%).
- Rate increases pending regulatory approval for Homeowners Outside of California (11.6%).
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
-0.1%
Avg return
Earnings day
+1.6%
Avg return
5 days after
+2.0%
Avg return
30 days after
46%
31 / 68 earnings
Positive
+23.8%
Q3 2023
Best reaction
-14.2%
Q2 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.1% | +1.3% | +4.0% | |
| Q4 2025 | -9.2% | -12.9% | -9.7% | |
| Q3 2025 | +2.1% | +7.8% | +12.8% | |
| Q1 2025 | -4.0% | +2.6% | +11.0% | |
| Q4 2024 | +9.3% | +9.4% | +14.3% | |
| Q3 2024 | +5.9% | -3.3% | +16.2% | |
| Q2 2024 | +2.3% | +0.9% | +13.1% | |
| Q1 2024 | +2.2% | +3.0% | +5.4% | |
| Q4 2023 | +6.2% | +25.6% | +17.6% | |
| Q3 2023 | +23.8% | +20.1% | +22.8% | |
| Q2 2023 | -5.3% | -5.1% | -11.1% | |
| Q1 2023 | -3.7% | -2.8% | -2.3% | |
| Q4 2022 | -6.2% | -0.4% | -14.7% | |
| Q3 2022 | +14.0% | +26.8% | +24.0% | |
| Q2 2022 | -14.2% | -21.2% | -21.3% | |
| Q1 2022 | +3.4% | +1.3% | -3.8% | |
| Q4 2021 | +1.9% | +4.9% | +0.9% | |
| Q3 2021 | +2.0% | +0.1% | -6.3% | |
| Q2 2021 | -3.1% | -1.8% | -3.9% | |
| Q1 2021 | +3.8% | +4.8% | -2.3% | |
| Q4 2020 | +1.6% | +2.8% | +9.6% | |
| Q3 2020 | -0.3% | +1.2% | +9.5% | |
| Q2 2020 | +0.0% | +6.2% | +6.3% | |
| Q1 2020 | -6.4% | -9.7% | +7.2% | |
| Q4 2019 | +5.6% | +5.8% | -20.3% | |
| Q3 2019 | -10.3% | -8.9% | -7.3% | |
| Q2 2019 | -7.8% | -9.6% | -15.6% | |
| Q1 2019 | +1.3% | +6.0% | +7.3% | |
| Q4 2018 | -4.7% | +0.7% | -5.7% | |
| Q3 2018 | +20.9% | +18.6% | +9.1% | |
| Q2 2018 | +13.6% | +15.4% | +19.9% | |
| Q1 2018 | -8.3% | -8.3% | -2.4% | |
| Q4 2017 | -13.0% | -12.0% | -5.3% | |
| Q3 2017 | -0.1% | -1.0% | -2.4% | |
| Q2 2017 | +5.7% | +6.1% | +1.8% | |
| Q1 2017 | -7.0% | -7.9% | -8.9% | |
| Q4 2016 | -6.3% | -9.3% | -6.4% | |
| Q3 2016 | +11.2% | +8.7% | +15.8% | |
| Q2 2016 | -3.9% | -4.9% | -1.9% | |
| Q1 2016 | -1.0% | — | — | |
| Q4 2015 | +7.5% | — | — | |
| Q3 2015 | -3.5% | — | — | |
| Q2 2015 | -0.9% | — | — | |
| Q1 2015 | -3.5% | — | — | |
| Q4 2014 | -11.8% | — | — | |
| Q3 2014 | +3.9% | — | — | |
| Q2 2014 | +4.4% | — | — | |
| Q1 2014 | +0.8% | — | — | |
| Q4 2013 | -5.2% | — | — | |
| Q3 2013 | -4.6% | — | — | |
| Q2 2013 | -3.2% | — | — | |
| Q1 2013 | +7.7% | — | — | |
| Q4 2012 | -6.4% | — | — | |
| Q3 2012 | +1.3% | — | — | |
| Q2 2012 | -11.3% | — | — | |
| Q1 2012 | +0.0% | — | — | |
| Q4 2011 | -1.2% | — | — | |
| Q3 2011 | +4.2% | — | — | |
| Q2 2011 | -2.8% | — | — | |
| Q1 2010 | -1.4% | — | — | |
| Q1 2011 | +1.0% | — | — | |
| Q4 2008 | -0.1% | — | — | |
| Q4 2010 | -0.1% | — | — | |
| Q3 2010 | +0.1% | — | — | |
| Q3 2009 | +0.1% | — | — | |
| Q2 2009 | -0.4% | — | — | |
| Q2 2010 | -0.4% | — | — | |
| Q4 2009 | -0.4% | — | — |
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