Progressive’s Q2 Earnings Beat, Premiums Rise Y/Y
The Progressive Corporation‘s (NYSE: PGR) second-quarter 2024 earnings per share of $2.65 beat the Zacks Consensus Estimate of $1.99. The bottom line improved more than five times year over year.
Operating revenues of $18.3 billion beat the Zacks Consensus Estimate by 1.4% and increased 18.9% year over year.
Shares gained 2.3% in the pre-market trading session to reflect the outperformance.
The Progressive Corporation Price, Consensus and EPS Surprise
The Progressive Corporation price-consensus-eps-surprise-chart | The Progressive Corporation Quote
Behind the Headlines
Net premiums written were $17.9 billion in the quarter, up 22% from $14.7 billion a year ago. Premiums beat our estimate of $17.3 billion.
Net premiums earned grew 19% to $17.2 billion and beat our estimate of $16.7 billion.
Net realized loss on securities was $126.3 billion against $126.9 million earned …
Full story available on Benzinga.com