Progressive: Q4 Financial Results Overview

Progressive Corp. Announces Strong Fourth-Quarter Earnings

Progressive Corp., headquartered in Mayfield Village, Ohio, reported a net profit of $2.95 billion for the fourth quarter, according to figures released on Wednesday.

The company’s earnings amounted to $5.02 per share, with adjusted earnings—excluding investment gains—coming in at $4.67 per share.

These results exceeded analysts’ expectations. According to Zacks Investment Research, the consensus estimate among nine analysts was $4.44 per share.

During the quarter, Progressive generated $22.75 billion in total revenue. When adjusted, revenue stood at $22.49 billion, also outpacing Wall Street projections. Six analysts surveyed by Zacks had anticipated $21.94 billion in revenue.

For the full year, Progressive reported a total profit of $11.31 billion, or $19.23 per share, with annual revenue reaching $86.94 billion.