Market Overview

Progressive: Q3 Earnings Insights

Share:

Shares of Progressive (NYSE:PGR) rose 0.2% in pre-market trading after the company reported Q3 results.

Quarterly Results

Earnings per share increased 32.39% over the past year to $1.88, which beat the estimate of $1.72.

Revenue of $9,974,000,000 up by 10.67% year over year, which missed the estimate of $10,920,000,000.

Outlook

Progressive hasn't issued any earnings guidance for the time being.

Progressive hasn't issued any revenue guidance for the time being.

Recent Stock Performance

Company's 52-week high was at $102.05

52-week low: $62.18

Price action over last quarter: Up 16.29%

Company Profile

Progressive underwrites private and commercial auto insurance and specialty lines; it has almost 20 million personal auto policies in force and is the fourth- largest auto insurer in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the Internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.

 

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