Progressive Earnings: Everything You Must Know Now

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)…

Revenue decreased 1.13% from $4.44 billion in the previous quarter. EPS increased 28.57% from $0.42 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.32 to a profit $0.33. For the current year, the average estimate has moved up from a profit of $1.49 to a profit of $1.57 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)