Progressive Corporation (PGR) reported a quarterly earnings estimate of $2.11 per share for the current quarter, reflecting a substantial +322% increase year-over-year. The consensus estimate for the fiscal year stands at $11.33, a growth of +85.4% from the previous year, while future forecasts project earnings of $12.21 for next fiscal year, marking a +7.8% rise. Over the past month, Progressive’s stock has seen a +3.8% increase, outperforming the Zacks S&P 500 composite’s +3.2% return.
The company also anticipates a sales estimate of $17.92 billion for the current quarter, which is +17.7% higher than last year. For the fiscal years, Progressive expects revenues of $73.09 billion and $82.88 billion, translating to +18.4% and +13.4% year-over-year growth, respectively.
Progressive’s recent quarterly revenue was $17.09 billion, an increase of +20.1% year-over-year, surpassing the Zacks Consensus Estimate of $16.61 billion by +2.84%. The company’s Zacks Rank is currently #3 (Hold), indicating it is expected to perform in line with the broader market in the near term.
