The Progressive Corporation (NYSE: PGR), an insurance holding company, has reported a sharp increase in earnings for the fourth quarter of 2023.
- Fourth-quarter net income more than doubled to $1.99 billion from $826.4 million in the comparable period of 2022
- On a per-share basis, earnings jumped to $3.37 per share in the December quarter from $1.40 per share last year
- At $15.13 billion, net premiums written were up 21% year-over-year; Net premiums earned rose 22% to $15.77 billion
- The combined ratio was 88.7 in Q4, vs. 93.9 in the prior-year period
- In December, net income came in at $901.2 million, or $1.53 per share; Net premiums written were $4.88 billion
- At the end of the quarter, Progressive had a total of 29.70 million policies in force, up 9% year-over-year
Listen to the conference calls as they happen. Don't miss a beat! With AlphaStreet Intelligence, you can listen to live calls and interviews as they happen, so you never have to worry about missing out on important information.
Most Popular
Trxade Health Inc. (NASDAQ: MEDS) Q1 2024 Research Summary
Trxade Health, Inc. (NASDAQ: MEDS) is a drug procurement and delivery platform that digitalizes the retail pharmacy experience. The company has a growing network of suppliers and partnerships with independent
Earnings Preview: Walmart (WMT) expected to report sales and profit gains in Q1
Over the years, Walmart Inc. (NYSE: WMT) has constantly diversified while maintaining its dominance in the retail world. The company is preparing to report financial results for the first three
After a positive year, what’s in the cards for Electronic Arts (EA) in FY25
Electronic Arts (NASDAQ: EA) ended fiscal 2024 on a mixed note, reporting lower revenues and improved bottom-line performance for the fourth quarter. The stock declined following the announcement as earnings