Progressive's Earnings: A Preview


Progressive PGR releases its next round of earnings this Thursday, April 15. Get the latest predictions in Benzinga's essential guide to the company's Q1 earnings report.

Net Income, Earnings, And Earnings Per Share

Earnings and EPS are useful metrics of profitability. Total earnings also known as net income is equal to total revenue minus total expenses. Dividing net income by the total number of shares outstanding yields EPS.

Earnings And Revenue

Progressive earnings will be near $1.72 per share on sales of $11.23 billion, according to analysts. In the same quarter last year, Progressive announced EPS of $1.17 on revenue of $9.40 billion.

Why Analyst Estimates And Earnings Surprises Are Important

Analysts who cover this company will publish forward-looking estimates of its revenue and EPS each quarter. Averaging together every EPS and revenue prediction that each analyst makes about a company in a quarter yields the "consensus estimates." A company posting earnings or revenue above or below the consensus estimate is known as an "earnings surprise" and may move the stock by a considerable margin.

The analyst consensus estimate would represent a 47.01% increase in the company's earnings. Sales would be up 19.47% from the year-ago period. The company's reported EPS has stacked up against analyst estimates in the past like this:

Quarter Q4 2021 Q3 2020 Q2 2020 Q1 2020
EPS Estimate 1.66 1.72 1.74 1.39
EPS Actual 1.57 1.88 1.84 1.92
Revenue Estimate 10.32 B 10.92 B 9.72 B 10.34 B
Revenue Actual 10.21 B 9.97 B 9.65 B 9.43 B

Stock Performance

For a full 12 months, the return has risen by 22.59%. Given that these returns are generally positive, long-term shareholders are probably relaxed going into this earnings release. Long-term shareholders are already enjoying 12-month gains prior to the announcement.

Do not be surprised to see the stock move on comments made during its conference call. Progressive is scheduled to hold the call at 13:00:00 ET and can be accessed here.

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