UPDATE: Progressive Q3 Adj. EPS $2.09 Beats $1.72 Estimate, Sales $14.89B Miss $15.46B Estimate
Portfolio Pulse from Happy Mohamed
Progressive's Q3 earnings per share of $2.09 beat the analyst consensus estimate of $1.72 by 21.51%, a 301.92% increase from the same period last year. However, the company's quarterly sales of $14.89 billion missed the analyst consensus estimate of $15.46 billion by 3.66%, though it's a 20.12% increase from the same period last year.
October 13, 2023 | 12:59 pm
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Progressive's Q3 earnings beat estimates significantly, but sales fell short of expectations. This mixed result could lead to uncertain market reactions.
Progressive's earnings beat estimates by a significant margin, which is a positive signal for investors. However, the company's sales missed estimates, which could be a concern. The mixed results could lead to uncertain market reactions in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100