Donegal Group misses on Q2 earnings, tops revenue estimate

Donegal Group Inc. (Nasdaq:DGICA) is down slightly in morning action after the insurance holding company said early Friday that its second-quarter earnings tumbled to $6.9 million, or $0.28 per share, down 36% from $10.8 million, or $0.43 per share, a year earlier. Wall Street analysts were looking for earnings of $0.32 per share.

Quarterly revenue for the three months ended June 30 rose 11% to $94 million, versus $84.6 million during the prior-year period. Wall Street analysts, on average, anticipated $88.3 million.

In Friday morning trading, DGICA is down 2.98%, or $0.51, to $16.59. For detailed price information and recent news stories about Donegal Group, click DGICA.

About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau. Read More

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