The Zacks Earnings ESP is a great way to find potential earnings surprises. Why investors should take advantage now.
Progressive's (PGR) second-quarter 2024 results reflect a year-over-year improvement in premiums.
While the top- and bottom-line numbers for Progressive (PGR) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.
Progressive (PGR) came out with quarterly earnings of $2.65 per share, beating the Zacks Consensus Estimate of $1.99 per share. This compares to earnings of $0.50 per share a year ago.
The Progressive Corporation PGR is slated to report second-quarter 2024 earnings on Jul 16 before the opening bell. The company's earnings beat estimates in the last reported quarter.
Progressive Is A Buy Ahead Of Earnings
The insurance industry is largely insulated from economic downturns and inflation due to their price flexibility, steady demand, and supportive subsidies. Progressive's profitability has been consistently higher than the industry due to their prioritization of innovation and growth. Severe weather conditions in the past few years have resulted in large catastrophe losses for Progressive. In response, they are steadily renegotiating reinsurance contracts, with recoveries rising since.
Progressive (PGR) is poised to grow from its compelling portfolio, leadership position, strength in Vehicle and Property businesses, healthy policies in force, retention and a solid capital position.
In the most recent trading session, Progressive (PGR) closed at $210.68, indicating a +0.71% shift from the previous trading day.
Zacks.com users have recently been watching Progressive (PGR) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
In the closing of the recent trading day, Progressive (PGR) stood at $210.75, denoting a +1.21% change from the preceding trading day.
Progressive's (PGR) May results reflect higher revenues, partially offset by higher expenses.