Mercury General in California Reported 3Q Income of $58.6M

Mercury General Corp. reported third-quarter net income of $58.6 million.

On a per-share basis, the Los Angeles-based insurance carrier said on Monday it had profit of $1.06. Earnings, adjusted for investment costs, were $1.11 per share.

The auto insurance company posted revenue of $894.8 million in the period. Its adjusted revenue was $898.7 million.

Mercury General shares have fallen 5 percent since the beginning of the year. The stock has declined almost 10 percent in the last 12 months.