Progressive Corp. (NYSE:PGR) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Progressive Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 170% to $0.54 in the quarter versus EPS of $0.20 in the year-earlier quarter.
Revenue: Rose 6.63% to $4.39 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Progressive Corp. reported adjusted EPS income of $0.54 per share. By that measure, the company beat the mean analyst estimate of $0.41. It missed the average revenue estimate of $4.4 billion.
Quoting Management: There was no comment from the management.
Key Stats (on next page)…