Recap: Progressive Q1 Earnings

Shares of Progressive PGR rose 1.5% in pre-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share were up 47.86% over the past year to $1.73, which beat the estimate of $1.72.

Revenue of $10,420,000,000 rose by 10.85% year over year, which missed the estimate of $11,230,000,000.

Looking Ahead

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Technicals

52-week high: $102.05

52-week low: $71.25

Price action over last quarter: Up 11.59%

Company Description

Progressive underwrites private and commercial auto insurance and specialty lines; it has over 20 million personal auto policies in force and is the fourth- largest auto insurer in the United States. Progressive markets its policies through independent insurance agencies in the U.S. and Canada and directly via the Internet and telephone. Its premiums are split roughly equally between the agent and the direct channel. The company also offers commercial auto policies and entered homeowners insurance through an acquisition in 2015.