For the quarter ended March 2023, Progressive (PGR - Free Report) reported revenue of $14.23 billion, up 15.8% over the same period last year. EPS came in at $0.65, compared to $1.12 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.12 billion, representing a surprise of +0.80%. The company delivered an EPS surprise of -54.86%, with the consensus EPS estimate being $1.44.
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:
- Expense Ratio: 20.6% versus 20.08% estimated by six analysts on average.
- Loss & loss adjustment expense ratio: 78.4% compared to the 73.7% average estimate based on six analysts.
- Combined Ratio - Insurance Segment (Underwriting Ratios): 99% versus the six-analyst average estimate of 93.77%.
- Total Personal Lines Combined ratio: 98.7% versus the four-analyst average estimate of 93.15%.
- Service revenues: $72.50 million versus $73.05 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change.
- Net premiums earned: $13.53 billion versus $13.41 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +14.7% change.
- Investment income: $419.60 million compared to the $375.94 million average estimate based on six analysts. The reported number represents a change of +73.3% year over year.
- Fees and other revenues: $206.20 million versus the five-analyst average estimate of $194.49 million. The reported number represents a year-over-year change of +18.5%.
- Net premiums earned-Personal Lines-Direct: $5.72 billion compared to the $5.72 billion average estimate based on three analysts. The reported number represents a change of +19.3% year over year.
- Net premiums earned-Commercial Lines: $2.36 billion versus the three-analyst average estimate of $2.46 billion. The reported number represents a year-over-year change of +10.8%.
- Net premiums earned-Personal Lines-Agency: $4.86 billion compared to the $4.84 billion average estimate based on three analysts. The reported number represents a change of +12.4% year over year.
- Net premiums earned-Personal lines: $10.58 billion compared to the $10.57 billion average estimate based on three analysts. The reported number represents a change of +16% year over year.
View all Key Company Metrics for Progressive here>>>Shares of Progressive have returned +9.7% over the past month versus the Zacks S&P 500 composite's +6.1% 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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It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
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For the quarter ended March 2023, Progressive (PGR - Free Report) reported revenue of $14.23 billion, up 15.8% over the same period last year. EPS came in at $0.65, compared to $1.12 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $14.12 billion, representing a surprise of +0.80%. The company delivered an EPS surprise of -54.86%, with the consensus EPS estimate being $1.44.
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:
- Expense Ratio: 20.6% versus 20.08% estimated by six analysts on average.
- Loss & loss adjustment expense ratio: 78.4% compared to the 73.7% average estimate based on six analysts.
- Combined Ratio - Insurance Segment (Underwriting Ratios): 99% versus the six-analyst average estimate of 93.77%.
- Total Personal Lines Combined ratio: 98.7% versus the four-analyst average estimate of 93.15%.
- Service revenues: $72.50 million versus $73.05 million estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +7.1% change.
- Net premiums earned: $13.53 billion versus $13.41 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +14.7% change.
- Investment income: $419.60 million compared to the $375.94 million average estimate based on six analysts. The reported number represents a change of +73.3% year over year.
- Fees and other revenues: $206.20 million versus the five-analyst average estimate of $194.49 million. The reported number represents a year-over-year change of +18.5%.
- Net premiums earned-Personal Lines-Direct: $5.72 billion compared to the $5.72 billion average estimate based on three analysts. The reported number represents a change of +19.3% year over year.
- Net premiums earned-Commercial Lines: $2.36 billion versus the three-analyst average estimate of $2.46 billion. The reported number represents a year-over-year change of +10.8%.
- Net premiums earned-Personal Lines-Agency: $4.86 billion compared to the $4.84 billion average estimate based on three analysts. The reported number represents a change of +12.4% year over year.
- Net premiums earned-Personal lines: $10.58 billion compared to the $10.57 billion average estimate based on three analysts. The reported number represents a change of +16% year over year.
View all Key Company Metrics for Progressive here>>>Shares of Progressive have returned +9.7% over the past month versus the Zacks S&P 500 composite's +6.1% 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.
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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