Progressive Q2 Adj $0.40 Misses $0.87 Estimate, Sales $14.46B Miss $14.98B Estimate
Portfolio Pulse from Benzinga Newsdesk
Progressive's Q2 earnings per share (EPS) of $0.57 missed the analyst consensus estimate of $0.87 by 34.48%, a 48.18% decrease from the same period last year. Net premiums written of $14.72 billion also missed the estimate of $14.98 billion by 1.74%, though this is a 21.17% increase from last year.
July 13, 2023 | 12:26 pm
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Progressive's Q2 earnings and net premiums written fell short of analyst estimates, indicating potential challenges in profitability.
Progressive's lower than expected Q2 earnings and net premiums written suggest potential profitability issues, which could negatively impact investor sentiment and the company's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100