CORRECTION: Progressive Q4 2023 GAAP EPS $3.37, Dec. EPS $1.53
Portfolio Pulse from Benzinga Newsdesk
Progressive Corporation (NYSE:PGR) reported Q4 2023 earnings of $3.37 per share, surpassing the analyst consensus estimate of $2.56 by 31.64%.
January 24, 2024 | 1:07 pm
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Progressive Corporation reported a significant earnings beat for Q4 2023, with an EPS of $3.37 compared to the expected $2.56.
Earnings beats are typically seen as positive indicators of a company's financial health and often result in a positive short-term reaction in the stock price. Given the substantial beat of over 31%, this is likely to be viewed favorably by investors and could lead to an increase in the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100