CORRECTION: Progressive Q2 Adj $0.40 Misses $0.87 Estimate, Sales $14.46B Miss $14.98B Estimate
Portfolio Pulse from Happy Mohamed
Progressive (NYSE:PGR) reported Q2 earnings of $0.40 per share, missing the analyst consensus estimate of $0.87 by 54.02%. This is a 63.64% decrease from the same period last year. The company also reported quarterly sales of $14.46 billion, missing the analyst consensus estimate of $14.98 billion by 3.44%. However, this is a 19.06% increase from the same period last year.
July 13, 2023 | 1:05 pm
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Progressive's Q2 earnings and sales missed estimates, which could negatively impact its stock price in the short term.
Progressive's earnings and sales for Q2 have both missed estimates, which is typically seen as a negative signal by the market. This could lead to a decrease in the company's stock price in the short term. However, it's worth noting that the company's sales have increased by 19.06% compared to the same period last year.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100