Mercury General in California Reports 1Q Loss of $139M

Mercury General Corp. this week reported a first-quarter loss of $139.2 million, after reporting a profit in the same period a year earlier.

The Los Angeles-based company said it had a loss of $2.51 per share. Earnings, adjusted for investment costs, were $1.07 per share.

The auto insurance company posted revenue of $708.3 million in the period. Its adjusted revenue was $959.6 million.

Mercury General shares have declined 19% since the beginning of the year. The stock has declined 28% in the last 12 months.