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The Progressive Corporation (PGR)
:PGR
Earnings Data
Report Date
Apr 10, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
4.63Last Year’s EPS
3.73Same Quarter Last Year
Strong Buy
Based on 17 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Jan 29, 2025
|% Change Since: 11.35%
|Next Earnings Date:Apr 10, 2025
Earnings Call Sentiment|Positive
The earnings call presented a largely positive outlook with record growth in premiums and a strong combined ratio. Employee engagement is at an all-time high, and advancements in claims technology are delivering significant efficiency gains. However, there are concerns regarding the potential impact of tariffs on margins and a decline in policy life expectancy, which could affect retention.Company Guidance
In the call, Progressive's leadership provided a robust overview of their fiscal year 2024 performance, highlighting significant metrics like a 21% year-over-year increase in net premiums written, reaching $74.4 billion. The company also saw a record growth in active policies, increasing by over 5 million policies, which is double their previous highest annual rate. They achieved a combined ratio of 88.8, surpassing their goal of 96, and improving by about 6 points compared to 2023. Employee engagement and satisfaction metrics were also strong, with Progressive ranking in the 98th percentile for engagement and 99th for overall satisfaction, placing them among the top U.S. companies. Additionally, they emphasized their strategic pillars, focusing on people, culture, competitive pricing, and technology investments in their Claims process. The call also addressed the potential impact of tariffs and how they are modeling these into their pricing strategies.Record Growth in Net Premiums Written
Net premiums written grew by approximately 21% year-over-year, reaching $74.4 billion. The premium growth was driven primarily by customer growth, with active policies increasing by more than 5 million.
Outstanding Combined Ratio
Progressive achieved a combined ratio of 88.8 in 2024, significantly better than the target of 96 and about 6 points lower than in 2023.
High Employee Engagement
Employee engagement surpassed previous records, with Progressive ranking in the 98th percentile of engagement and the 99th percentile in overall satisfaction according to Gallup.
Advancements in Claims Technology
Photo estimating adoption grew significantly, leading to an 82% increase since 2016, with no material degradation in accuracy. Machine vision models have doubled productivity in photo estimating.
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PGR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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PGR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Jan 29, 2025 | $245.05 | $246.40 | +0.55% |
| Oct 15, 2024 | $247.12 | $246.85 | -0.11% |
| Jul 16, 2024 | $212.92 | $205.95 | -3.27% |
| Apr 12, 2024 | $198.27 | $199.88 | +0.81% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does The Progressive Corporation (PGR) report earnings?
The Progressive Corporation (PGR) is schdueled to report earning on Apr 10, 2025, TBA Not Confirmed.
What is The Progressive Corporation (PGR) earnings time?
The Progressive Corporation (PGR) earnings time is at Apr 10, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is PGR EPS forecast?
PGR EPS forecast for the fiscal quarter 2025 (Q1) is 4.63.
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