PGR
$33.86
Progressive
$.42
1.26%
Earnings Details
3rd Quarter September 2016
Thursday, October 13, 2016 8:26:27 AM
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Summary

Progressive Beats

Progressive (PGR) reported 3rd Quarter September 2016 earnings of $0.36 per share on revenue of $5.9 billion. The consensus earnings estimate was $0.33 per share on revenue of $5.9 billion. The Earnings Whisper number was $0.35 per share. Revenue grew 12.5% on a year-over-year basis.

Progressive Corp is an insurance holding company, whose subsidiaries provides personal and commercial automobile insurance and other property-casualty insurance and related services throughout the United States.

Results
Reported Earnings
$0.36
Earnings Whisper
$0.35
Consensus Estimate
$0.33
Reported Revenue
$5.94 Bil
Revenue Estimate
$5.91 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Progressive Reports September 2016 Results

MAYFIELD VILLAGE, OHIO - October 13, 2016 -- The Progressive Corporation (PGR) today reported the following results for September and the third quarter 2016:

September
Third Quarter
(millions, except per share amounts and ratios; unaudited) 2016
2015
Change
2016
2015
Change
Net premiums written
$
1,861.9
$
1,723.0
8
%
$
6,049.0
$
5,412.6
12
%
Net premiums earned
$
1,783.0
$
1,575.8
13
%
$
5,723.4
$
5,070.6
13
%
Net income attributable to Progressive
$
75.6
$
72.3
5
%
$
198.7
$
278.3
(29)
%
Per share
$
0.13
$
0.12
5
%
$
0.34
$
0.47
(28)
%
Total pretax net realized gains (losses) on
securities (including net impairment losses)
$
(14.7)
$
(24.3)
(40)
%
$
(20.7)
$
(15.8)
31
%
Combined ratio
94.3
93.1
1.2 pts.
96.6
92.8
3.8 pts.
Average diluted equivalent shares
584.2
587.8
(1)
%
584.6
589.1
(1)
%
(thousands; unaudited)
September
September
2016
2015
Change
Policies in Force
Vehicle businesses:
Agency - auto
4,980.1
4,739.9
5 %
Direct - auto
5,324.0
4,830.8
10 %
Total personal auto
10,304.1
9,570.7
8 %
Total special lines
4,291.1
4,150.0
3 %
Total Personal Lines
14,595.2
13,720.7
6 %
Total Commercial Lines 612.7
549.5
12 %
Property business
1,184.7
1,070.2
11 %

About Progressive

The Progressive Group of Insurance Companies makes it easy to understand, buy and use auto insurance. Progressive offers choices so consumers can reach us whenever, wherever and however it’s most convenient-online at http://www.progressive.com,">http://www.progressive.com, by phone at 1-800-PROGRESSIVE, on a mobile device or in-person with a local agent.

Progressive provides insurance for personal and commercial autos and trucks, motorcycles, boats, recreational vehicles, and homes. Home insurance is underwritten by select carriers, including American Strategic Insurance Corp. and subsidiaries (ASI), our majority owned subsidiaries.

Progressive is the fourth largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, one of the top 20 homeowners carriers. Progressive also offers car insurance online in Australia at http://www.progressiveonline.com.au.

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price(R), Snapshot(R) and Service Centers.

The Common Shares of The Progressive Corporation, the Mayfield Village, Ohio-based holding company, trade publicly at NYSE:PGR.

Company Contact:

Julia Hornack

(440) 395-2164

The Progressive Corporation

6300 Wilson Mills Road

Mayfield Village, Ohio 44143

http://www.progressive.com

To view the complete release, click the attachment below.

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: The Progressive Corporation via Globenewswire

Progressive September 2016 Complete Earnings Release - http://hugin.info/152879/R/2048725/766035.pdf