Progressive (NYSE:PGR) Third Quarter 2022 Results
Key Financial Results- Revenue: US$12.8b (up 7.8% from 3Q 2021).
- Net income: US$117.4m (up 5.0% from 3Q 2021).
- Profit margin: 0.9% (in line with 3Q 2021).
- EPS: US$0.20 (up from US$0.19 in 3Q 2021).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Progressive Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 2.8%. Earnings per share (EPS) also missed analyst estimates by 82%.
Looking ahead, revenue is forecast to grow 9.7% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Insurance industry in the US.
Performance of the American Insurance industry.
The company's share price is broadly unchanged from a week ago.
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About NYSE:PGR
Progressive
An insurance holding company, provides personal and commercial auto, personal residential and commercial property, business related general liability, and other specialty property-casualty insurance products and related services in the United States.
Solid track record with excellent balance sheet.