Progressive Corp. (NYSE:PGR) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.
Progressive Corp. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 50% to $0.51 in the quarter versus EPS of $0.34 in the year-earlier quarter.
Revenue: Rose 9.54% to $4.45 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Progressive Corp. reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.44. It beat the average revenue estimate of $4.44 billion.
Quoting Management: There was no comment from management.
Key Stats (on next page)…
Revenue decreased 2.51% from $4.56 billion in the previous quarter. EPS increased 50% from $0.34 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 $0.33 to a profit $0.34. For the current year, the average estimate has moved up from a profit of $1.44 to a profit of $1.50 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)