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