Progressive: Q3 Earnings Snapshot
By AP News
Published - Oct 15, 2024, 08:52 AM ET
Last Updated - Oct 15, 2024, 08:52 AM EDT
MAYFIELD VILLAGE, Ohio (AP) — MAYFIELD VILLAGE, Ohio (AP) — Progressive Corp. (PGR) on Tuesday reported third-quarter profit of $2.33 billion.
On a per-share basis, the Mayfield Village, Ohio-based company said it had profit of $3.97. Earnings, adjusted for investment gains, came to $3.58 per share.
The results exceeded Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.40 per share.
The insurer posted revenue of $19.72 billion in the period. Its adjusted revenue was $19.43 billion, also beating Street forecasts. Eight analysts surveyed by Zacks expected $18.95 billion.
