Progressive Corp. Q4 Profit Sharply Declines
(RTTNews) - Progressive Corp. (PGR) reported Wednesday that net income for the fourth quarter declined 14 percent to $826.4 million or $1.40 per share from $962.3 million or $1.63 in the prior-year quarter.
On average, 17 analysts polled by Thomson Reuters expected the company to report earnings of $1.43 per share for the quarter. Analysts' estimates typically exclude special items.
Net premiums written for the quarter grew 16 percent to $12.46 billion from $10.75 billion last year. Analysts expected revenue of $12.35 billion for the quarter.
Net premiums earned were $12.89 billion, up 11 percent from $11.60 billion in the previous year.
For the month of December, the company reported net income of $5.8 million or $0.01 per share, sharply lower than $393.3 million or $0.67 per share last year.
Net premiums written for the month increased 15 percent to $3.57 billion from $3.11 billion in the prior year. Net premiums earned were $4.03 billion, up 12 percent from $3.61 billion in the previous year.
For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com
Progressive Corp. Reports February Profit Of $737 Mln
Progressive Corp. Reports January Profit Of $701 Mln
Progressive Corp. Swings To Profit In Q2
Progressive Corp. Slips To Q2 Loss
Swiss Market Ends Moderately Lower
European Markets Close Weak After Cautious Session
Canadian Market Down More Than 0.5% On Profit Taking
