Progressive Corporation (PGR) reported earnings of $3.28 per share for the current quarter, marking a year-over-year increase of 10.8%. The Zacks Consensus Estimate for this fiscal year is projected at $13.34, reflecting a substantial year-over-year change of 118.3%. This estimate has been revised upwards by 2.2% over the last 30 days.
In the last quarter, Progressive achieved revenues of $19.43 billion, up 23.7% year-over-year, surpassing the Zacks Consensus Estimate of $18.95 billion. The company is expected to report a revenue of $19.79 billion for the current quarter, indicating a growth of 19.3% year-over-year. Revenue estimates for the current and next fiscal years stand at $74.3 billion and $86.36 billion, respectively, representing growth of 20.3% and 16.2%.
Currently, Progressive holds a Zacks Rank #3 (Hold), suggesting it may perform in line with the broader market in the near term. The stock has returned -2.7% over the past month, compared to the S&P 500’s +3.2% during the same period.
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