Progressive 1/24/2024 Earnings Report

Progressive EPS Results

• Actual EPS: $2.96
• Consensus EPS: $2.43
• Beat/Miss: Beat by +$0.53
• One Year Ago EPS: $1.52

Progressive Revenue Results

• Actual Revenue: $16.89 billion
• Expected Revenue: $16.10 billion
• Beat/Miss: Beat by +$791.69 million
• YoY Revenue Growth: N/A

Progressive Announcement Details

• Date: 1/24/2024
• Time: Before Market Opens
• Conference Call Date: N/A
• Conference Call Time: N/A

Progressive (NYSE:PGR) Corporation (NYSE: PGR), founded in 1937 and headquartered in Mayfield Village, Ohio, is one of the leading providers of personal and commercial auto insurance in the United States. Under the leadership of President and Chief Executive Officer Tricia Griffith, who assumed the role in 2016, the company has expanded its footprint and diversified its offerings beyond traditional auto coverage.

Progressive’s core business encompasses a wide range of insurance products, including personal auto, commercial auto, motorcycle, recreational vehicle (RV), boat and personal watercraft policies. The company also offers homeowners, renters and life insurance through strategic partnerships. Progressive is well known for its usage-based insurance programs, such as Snapshot®, which leverage telematics data to adjust premiums based on individual driving behavior. This focus on innovative pricing and risk assessment tools underscores the company’s commitment to technology-driven solutions.

Distribution of Progressive’s products combines direct channels—online platforms, mobile apps and call centers—with a large independent agent network spanning the U.S. and select Canadian provinces. The company has built a reputation for extensive digital capabilities, including its Flo chatbot and digital quotes, that streamline the customer experience. Through continued investment in data analytics, customer service and a broad agent network, Progressive maintains a competitive position in the North American insurance market.