Progressive Q3 GAAP EPS $1.89, Net Premiums Earned $14.89B Miss $15.46B Estimate
Portfolio Pulse from Benzinga Newsdesk
Progressive Corporation reported Q3 earnings of $1.89 per share, an increase from $0.20 per share last year. However, the company's quarterly sales of $14.89 billion missed the analyst consensus estimate of $15.46 billion by 3.66 percent, despite being a 20.12 percent increase from last year.
October 13, 2023 | 12:27 pm
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Progressive's Q3 earnings per share increased significantly from last year, but sales missed analyst estimates.
Progressive's earnings per share increased significantly from the same period last year, indicating strong profitability. However, the company's sales missed analyst estimates, which could potentially negatively impact investor sentiment. The net effect on the stock price is uncertain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100