Categories Earnings, Finance

Earnings Summary: Progressive Corp reports strong earnings growth for Q4

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

Home Depot (HD) Q4 2023 Earnings: Key financials and quarterly highlights

Home Depot (NYSE: HD) reported fourth quarter 2023 earnings results today. Sales were $34.8 billion, down 2.9% from the same quarter a year ago. Comparable sales decreased 3.5%.  Net earnings were $2.8

Nvidia (NVDA) is set to report Q4 2024 results. Here is what to expect

Nvidia Corporation (NASDAQ: NVDA) has emerged as the frontrunner in providing cutting-edge solutions to enterprises for ramping up their generative AI deployments. The chipmaker is thriving on the rapid transition

Hasbro vs. Mattel: Here’s how these toymakers fared in Q4 2023

Leading toymakers Hasbro, Inc. (NASDAQ: HAS) and Mattel, Inc. (NASDAQ: MAT) reported their fourth quarter 2023 earnings results this month. Both companies performed differently, with Hasbro coming out of a

Add Comment
Viewing Highlight