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Compared to Estimates, Progressive (PGR) Q2 Earnings: A Look at Key Metrics
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For the quarter ended June 2024, Progressive (PGR - Free Report) reported revenue of $18.26 billion, up 19.9% over the same period last year. EPS came in at $2.65, compared to $0.50 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $18.02 billion, representing a surprise of +1.35%. The company delivered an EPS surprise of +33.17%, with the consensus EPS estimate being $1.99.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Progressive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Policies in force - Total Commercial Lines: 1,117.6 thousand versus the three-analyst average estimate of 1,161.82 thousand.
Policies in force - Personal Lines - Agency auto: 8,964.8 thousand versus the three-analyst average estimate of 8,928.57 thousand.
Policies in force - Total personal auto: 21,541.6 thousand versus 21,377.15 thousand estimated by three analysts on average.
Policies in force - Personal Lines - Direct auto: 12,576.8 thousand versus the three-analyst average estimate of 12,448.92 thousand.
Policies in force - Total Property business: 3,339.1 thousand versus the three-analyst average estimate of 3,255.91 thousand.
Policies in force - Companywide Total: 32,310.1 thousand compared to the 32,084.35 thousand average estimate based on two analysts.
Policies in force - Total special lines: 6,311.8 thousand versus the two-analyst average estimate of 6,258.03 thousand.
Policies in force - Total Personal Lines: 27,853.4 thousand versus the two-analyst average estimate of 27,626.25 thousand.
Net premiums earned: $17.21 billion versus $16.97 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +19% change.
Shares of Progressive have returned +4.3% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Compared to Estimates, Progressive (PGR) Q2 Earnings: A Look at Key Metrics
For the quarter ended June 2024, Progressive (PGR - Free Report) reported revenue of $18.26 billion, up 19.9% over the same period last year. EPS came in at $2.65, compared to $0.50 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $18.02 billion, representing a surprise of +1.35%. The company delivered an EPS surprise of +33.17%, with the consensus EPS estimate being $1.99.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Progressive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Policies in force - Total Commercial Lines: 1,117.6 thousand versus the three-analyst average estimate of 1,161.82 thousand.
- Policies in force - Personal Lines - Agency auto: 8,964.8 thousand versus the three-analyst average estimate of 8,928.57 thousand.
- Policies in force - Total personal auto: 21,541.6 thousand versus 21,377.15 thousand estimated by three analysts on average.
- Policies in force - Personal Lines - Direct auto: 12,576.8 thousand versus the three-analyst average estimate of 12,448.92 thousand.
- Policies in force - Total Property business: 3,339.1 thousand versus the three-analyst average estimate of 3,255.91 thousand.
- Policies in force - Companywide Total: 32,310.1 thousand compared to the 32,084.35 thousand average estimate based on two analysts.
- Policies in force - Total special lines: 6,311.8 thousand versus the two-analyst average estimate of 6,258.03 thousand.
- Policies in force - Total Personal Lines: 27,853.4 thousand versus the two-analyst average estimate of 27,626.25 thousand.
- Net premiums earned: $17.21 billion versus $16.97 billion estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +19% change.
View all Key Company Metrics for Progressive here>>>Shares of Progressive have returned +4.3% over the past month versus the Zacks S&P 500 composite's +3.8% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.