PGR
$75.65
Progressive
$.47
.63%
Earnings Details
2nd Quarter June 2019
Wednesday, July 17, 2019 8:10:00 AM
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Summary

Progressive Beats

Progressive (PGR) reported 2nd Quarter June 2019 earnings of $1.66 per share on revenue of $9.5 billion. The consensus earnings estimate was $1.43 per share on revenue of $9.2 billion. The Earnings Whisper number was $1.42 per share. Revenue grew 17.9% 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
$1.66
Earnings Whisper
$1.42
Consensus Estimate
$1.43
Reported Revenue
$9.45 Bil
Revenue Estimate
$9.16 Bil
Growth
Earnings Growth
Revenue Growth
Power Rating
Grade
Earnings Release

Progressive Reports June 2019 Results

MAYFIELD VILLAGE, OHIO, July 17, 2019 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for June 2019 and the second quarter of 2019:

  June
  Quarter
(millions, except per share amounts and ratios; unaudited)2019 2018 Change2019 2018Change
   
Net premiums written$2,794.0 $2,455.6 14% $9,126.5 $8,095.3 13%
Net premiums earned$2,745.0 $2,391.7 15% $8,824.7 $7,634.2 16%
Net income attributable to Progressive$413.1 $175.0 136% $979.4 $704.2 39%
Per share available to common shareholders$0.70 $0.29 137 $1.66 $1.19 39%
Total pretax net realized gains (losses) on securities$252.6 $(16.3)NM  $179.9 $32.8 448%
Combined ratio92.7 92.6  0.1 pts. 90.4   90.9 (0.5)pts.
Average diluted equivalent common shares587.0 585.8 0%586.9  585.8 0%
            
NM = Not Meaningful           


(thousands; unaudited)June 
   2019 2018 Change
Policies in Force       
Agency – auto6,783.7 6,107.4 11 %
Direct – auto7,528.4 6,650.9 13 %
  Total personal auto14,312.1 12,758.3 12 %
  Total special lines4,510.2 4,387.4 3 %
  Total Personal Lines18,822.3 17,145.7 10 %
  Total Commercial Lines734.2 678.9 8 %
  Property business2,071.6 1,766.6 17 %
        

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 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 third largest auto insurer in the country; a leading seller of motorcycle and commercial auto insurance; and through ASI, one of the top 15 homeowners insurance carriers

Founded in 1937, Progressive continues its long history of offering shopping tools and services that save customers time and money, like Name Your Price®, Snapshot®, and HomeQuote Explorer®.

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

Progressive June 2019 Complete Earnings Release: http://ml.globenewswire.com/Resource/Download/91dd5c10-a9fd-4ef9-a90b-ba0686e0f1fa.

Progressive Logo.jpg

Source: Progressive Corporation