Progressive Corp reports results for the quarter ended December 31 - Earnings Summary

• Progressive Corp PGR.N reported quarterly adjusted earnings of $4.08​​ per share for the quarter ended December 31, higher than the same quarter last year, when the company reported EPS of $2.97. The mean expectation of nineteen analysts for the quarter was for earnings of $3.58 per share. Wall Street expected results to range from $3.32 to $3.78 per share.

• Revenue rose 19.7% to $18.11 billion from a year ago; analysts expected $18.36 billion.

• Progressive Corp's reported EPS for the quarter was $4.01​.

• The company reported quarterly net income of $2.36 billion.

• Progressive Corp shares had risen by 2.3% this quarter.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 16.5% in the last three months.​

• In the last 30 days, three analysts negatively revised earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy," 7 "hold" and no "sell" or "strong sell."

• The average consensus recommendation for the property & casualty insurance peer group is also "buy"

Wall Street's median 12-month price target for Progressive Corp is $290.00

This summary was machine generated from LSEG data January 29 at 02:16 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)