Progressive Corp. (PGR) Misses Q1 EPS by 6c

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April 14, 2016 8:23 AM EDT

Progressive Corp. (NYSE: PGR) reported Q1 EPS of $0.44, $0.06 worse than the analyst estimate of $0.50. Revenue for the quarter came in at $5.82 billion versus the consensus estimate of $5.69 billion.

March First Quarter
(millions, except per share amounts and ratios; unaudited)2016 2015 Change2016 2015 Change
Net premiums written$1,859.1 $1,606.3 16%$5,818.4 $5,066.8 15%
Net premiums earned$1,676.2 $1,457.4 15%$5,317.4 $4,666.3 14%
Net income attributable to Progressive$60.8 $120.7 (50)%$258.2 $295.6 (13)%
Per share$0.10 $0.20 (49)%$0.44 $0.50 (12)%
Total pretax net realized gains (losses) on
securities (including net impairment losses)$ 13.4 $9.8 37%$17.4 $33.0 (47)%
Combined ratio97.6 90.0 7.6 pts.94.6 92.7 1.9 pts.
Average diluted equivalent shares585.0 590.4 (1)%585.5 591.0 (1) %

For earnings history and earnings-related data on Progressive Corp. (PGR) click here.


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