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Progressive Corp. (PGR) Tops Q3 EPS by 6c

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October 10, 2014 8:51 AM EDT

Progressive Corp. (NYSE: PGR) reported Q3 EPS of $0.50, $0.06 better than the analyst estimate of $0.44. Net premiums were $4.73 billion, versus $4.46 billion posted in the same period last year.

Month
Quarter
(millions, except per share amounts and ratios; unaudited)
2014
2013
Change
2014
2013
Change
Net premiums written
$
1,423.2
$
1,354.3
5
%
$
4,732.3
$
4,454.6
6
%
Net premiums earned
$
1,401.3
$
1,327.7
6
%
$
4,540.1
$
4,303.0
6
%
Net income
$
92.0
$
61.8
49
%
$
296.1
$
232.4
27
%
Per share
$
.16
$
.10
51
%
$
.50
$
.39
30
%
Total pretax net realized gains (losses) on securities
(including net impairment losses)
$
20.4
$
.2
NM
$
38.2
$
27.9
37
%
Combined ratio
93.3
94.9
(1.6) pts.
92.5
94.2
(1.7) pts.
Average diluted equivalent shares
592.9
603.0
(2)
%
593.7
603.5
(2)
%
NM = Not Meaningful
(thousands; unaudited)
September
September
Change
2014
2013
Policies in Force:
Agency – auto
4,784.6
4,842.4
(1) %
Direct – auto
4,453.4
4,172.3
7 %
Total personal auto
9,238.0
9,014.7
2 %
Total special lines
4,081.8
4,040.7
1 %
Total Personal Lines
13,319.8
13,055.4
2 %
Total Commercial Lines
517.8
524.7
(1) %
Progressive offers insurance to personal and commercial auto drivers throughout the United States. Our Personal Lines business writes insurance for personal autos and recreational vehicles. Our Commercial Lines business writes primary liability, physical damage, and other auto-related insurance for autos and trucks owned and/or operated predominantly by small businesses.

For earnings history and earnings-related data on Progressive Corp. (PGR) click here.


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