Progressive Reports July 2023 Results; EPS $1.02 Vs $1.17 YoY; Net income $604.4M Vs $688.8 YoY
Portfolio Pulse from Happy Mohamed
The Progressive Corporation (NYSE:PGR) reported its July 2023 results, showing a decrease in EPS from $1.17 to $1.02 YoY and a decrease in net income from $688.8M to $604.4M YoY. However, the company saw an increase in net premiums written and earned, as well as an increase in policies in force across all lines.
August 16, 2023 | 1:46 pm
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Progressive's July 2023 results show a decrease in EPS and net income YoY, but an increase in net premiums and policies in force.
While Progressive's EPS and net income have decreased YoY, the company has seen an increase in net premiums written and earned, as well as an increase in policies in force across all lines. This mixed result could lead to a neutral short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100