Revenue segments as reported by the company.

Net premiums earned 

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Net realized gains (losses) on securities

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Gross Profit, Operating Income, and Net Income as a percentage of Revenue

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An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX.

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Shares outstanding refer to a company's stock currently held by all its shareholders, including share blocks held by institutional investors and restricted shares owned by the company's officers and insiders.

Outstanding Shares

Market Cap

Also known as Price/Sales Ratio. Calculated using Average market cap for the quarter / Annualized quarterly revenue.

Revenue Multiple

Progressive

Progressive Corp. is an insurance holding company. engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines and Property. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The company was founded on March 10, 1937, and is headquartered in Mayfield Village, OH.

Earnings data Q1 2021

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Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

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Earnings data Q4 2023

Earnings data Q1 2024

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Earnings data Q4 2024

Progressive beats goals with strong growth and telematics advancements

Progressive's strong performance in exceeding goals and growth in policies.
Emphasis on accurate pricing, segmentation, and underwriting for profitability.
Challenges include pandemic impact and balancing telematics integration.
Opportunities lie in deeper telematics integration and multi-product households.

Progressive takes aggressive actions to improve margins and drive growth

Progressive is proactively managing margins through rate increases and cost-saving measures. Despite challenges in meeting targets, the company is confident in its growth trajectory. Opportunities lie in optimizing pricing strategies and leveraging industry-leading segmentation to drive profitability.

Progressive manages challenges, focuses on profitability amid industry changes

Progressive navigated challenges in Q2 2023 with a focus on balancing growth and profitability while maintaining a 96 combined ratio goal.
The company's strong risk management practices and customer-centric pricing strategies position it well for future growth opportunities.
Efficient customer acquisition, detailed loss reserving processes, and strategic underwriting are key to Progressive's performance and future success.

Progressive reports solid Q3 performance amidst competitive challenges and opportunities

Progressive's Q3 performance was positive, driven by premium and profitability enhancements through rate actions and reserve developments.
While facing challenges like declining new apps and competitive rate increases, Progressive's strengths in retention rates and strategic investments position it well for growth.
Opportunities in dynamic rate adjustments, successful BOP rollout, and cautious growth strategies amidst uncertainties highlight Progressive's adaptability and focus on sustainable growth.
The company's focus on stability, organic growth, and strategic investments in telematics underscore its commitment to long-term success and competitiveness.

Progressive (PGR) reports strong growth and profitability amidst competitive market

Progressive's strategic focus on customer needs, market share expansion, and profitability drives its growth trajectory. The company's emphasis on efficient marketing spend, rate adequacy, and digital investments positions it well for continued success.

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Progressive Corp. is an insurance holding company, which engages in the provision of personal and commercial auto insurance, residential property insurance, and other specialty property-casualty insurance and related services. It operates through the following segments: Personal Lines, Commercial Lines, and Property. The Personal Lines segment includes agency and direct businesses. The Commercial Lines segment writes primary liability and physical damage insurance for automobiles and trucks owned and operated predominately by small business in the auto, for-hire transportation, contractor, for-hire specialty, tow, and for-hire livery markets. The Property segment covers residential property insurance for homeowners, other property owners, and renters. The company was founded on March 10, 1937, and is headquartered in Mayfield Village, OH.

A compelling portfolio, leadership position, strength in Vehicle and Property businesses, healthy policies in force, retention and solid capital position continue to drive Progressive (PGR).

Progressive (PGR) Gains 15% in a Year: More Upside Left?

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OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a” (Excellent) to the recently announced $500 million of 4.95% senior unsecured notes, due 2033, issued by The Progressive Corporation (Progressive) (Mayfield Village, OH) [NYSE: PGR]. The outlook assigned to this Credit Rating (rating) is stable. The Long-Term IR assignment considers the rating profiles of Progressive's principal insurance subsidiary units, as well as the parent company's fi.

AM Best Assigns Issue Credit Rating to The Progressive Corporation's Senior Unsecured Notes

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MAYFIELD VILLAGE, OHIO, May 22, 2023 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE: PGR) today announced the pricing of $500 million aggregate principal amount of its 4.95% Senior Notes due 2033 (the “notes”) in an underwritten public offering.  The notes were priced at 99.941% of par. Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint bookrunners for the offering.

Progressive Prices $500 Million of Senior Notes

Progressive's (PGR) April earnings reflect higher revenues, partially offset by higher expenses.

Progressive (PGR) April Earnings and Revenues Improve Y/Y

MAYFIELD VILLAGE, OHIO, May 17, 2023 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for April 2023:

Progressive Reports April 2023 Results

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Progressive Corp (NYSE:PGR ) Q1 2023 Earnings Conference Call May 3, 2023 9:30 AM ET Company Participants Douglas Constantine - Director, IR Susan Griffith - President, CEO & Director John Sauerland - VP & CFO Patrick Callahan - President, Personal Lines Jonathan Bauer - CIO Conference Call Participants Michael Zaremski - BMO Capital Elyse Greenspan - Wells Fargo Securities Brian Meredith - UBS Andrew Kligerman - Crédit Suisse Jamminder Bhullar - JPMorgan Chase & Co. David Motemaden - Evercore ISI Tracy Benguigui - Barclays Bank Yaron Kinar - Jefferies Jon Newsome - Piper Sandler & Co. Joshua Shanker - Bank of America Merrill Lynch Ryan Tunis - Autonomous Research Alexander Scott - Goldman Sachs Group Michael Ward - Citigroup Douglas Constantine Good morning, and thank you for joining us today for Progressive's First Quarter Investor Event. I'm Doug Constantine, Director of Investor Relations, and I will be a moderator for today's event.

Progressive Corp (PGR) Q1 2023 Earnings Call Transcript

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Investors looking for stocks in the Insurance - Property and Casualty sector might want to consider either Everest Re (RE) or Progressive (PGR). But which of these two companies is the best option for those looking for undervalued stocks?

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In the first quarter, Progressive saw growth on its top and bottom lines. Despite this, the stock sold off by more than 6% after it delivered its Q1 earnings report.

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Frequent catastrophes accelerating policy renewal rate and the resultant upward pricing pressure are likely to boost the performance of Zacks Property and Casualty Insurance industry players like BRK.B, CB, PGR, RE and KNSL.

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Progressive's (PGR) Q1 earnings reflect improvement in the top line, offset by higher expenses.

Progressive (PGR) Q1 Earnings Miss, Revenues Top Estimates

While the top- and bottom-line numbers for Progressive (PGR) give a sense of how the business performed in the quarter ended March 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Here's What Key Metrics Tell Us About Progressive (PGR) Q1 Earnings

Progressive (PGR) came out with quarterly earnings of $0.65 per share, missing the Zacks Consensus Estimate of $1.44 per share. This compares to earnings of $1.12 per share a year ago.

Progressive (PGR) Lags Q1 Earnings Estimates

The auto insurer's stock is on pace for its largest percent decrease since November 2020.

Progressive Stock Is Falling the Most in the S&P 500 Today. Here's Why.

MAYFIELD VILLAGE, OHIO, April 13, 2023 (GLOBE NEWSWIRE) -- The Progressive Corporation (NYSE:PGR) today reported the following results for March 2023 and the first quarter of 2023:

Progressive Reports March 2023 Results

Progressive's (PGR) Q1 earnings are likely to have benefited from improved rates, solid policies in force and higher retention in its strong Vehicle and Property businesses.

Progressive (PGR) to Report Q1 Earnings: What's in Store?

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A compelling portfolio, leadership position, strength in Vehicle and Property businesses, healthy policies in force, retention and solid capital position poise Progressive (PGR) for growth.

Why You Should Hold Progressive (PGR) in Your Portfolio

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Insurance stocks have outperformed the S&P 500 over the past three years. Insurance businesses enjoy steady demand and can grow during inflationary periods.

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Progressive (PGR) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Progressive (PGR) Earnings Expected to Grow: What to Know Ahead of Q1 Release

News for Progressive Stock (PGR)