Progressive Corp. (PGR) Misses Q1 EPS by 6c
Progressive Corp. (NYSE: PGR) reported Q1 EPS of $0.44, $0.06 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $5.82 billion versus the consensus estimate of $5.69 billion.
| March | First Quarter | ||||||||||||||||||||||||||||||||
| (millions, except per share amounts and ratios; unaudited) | 2016 | 2015 | Change | 2016 | 2015 | Change | |||||||||||||||||||||||||||
| Net premiums written | $ | 1,859.1 | $ | 1,606.3 | 16 | % | $ | 5,818.4 | $ | 5,066.8 | 15 | % | |||||||||||||||||||||
| Net premiums earned | $ | 1,676.2 | $ | 1,457.4 | 15 | % | $ | 5,317.4 | $ | 4,666.3 | 14 | % | |||||||||||||||||||||
| Net income attributable to Progressive | $ | 60.8 | $ | 120.7 | (50) | % | $ | 258.2 | $ | 295.6 | (13) | % | |||||||||||||||||||||
| Per share | $ | 0.10 | $ | 0.20 | (49) | % | $ | 0.44 | $ | 0.50 | (12) | % | |||||||||||||||||||||
| Total pretax net realized gains (losses) on | |||||||||||||||||||||||||||||||||
| securities (including net impairment losses) | $ | 13.4 | $ | 9.8 | 37 | % | $ | 17.4 | $ | 33.0 | (47) | % | |||||||||||||||||||||
| Combined ratio | 97.6 | 90.0 | 7.6 pts. | 94.6 | 92.7 | 1.9 pts. | |||||||||||||||||||||||||||
| Average diluted equivalent shares | 585.0 | 590.4 | (1) | % | 585.5 | 591.0 | (1) | % | |||||||||||||||||||||||||
For earnings history and earnings-related data on Progressive Corp. (PGR) click here.