Loading...
•
Sep 30, 2023
Progressive Q3 2023 Earnings Report
Progressive reported strong September and Q3 2023 results, marked by significant growth in net premiums and a substantial increase in net income compared to the previous year.
Key Takeaways
Progressive Corporation reported a strong financial performance for September and the third quarter of 2023. Net premiums written increased by 22% for both September and the quarter. Net income saw a significant rise, reaching $369.3 million for September and $1,121.3 million for the third quarter, a substantial improvement compared to the previous year. The combined ratio improved significantly, indicating better underwriting profitability.
Net premiums written increased by 22% for September and Q3 2023.
Net income improved significantly, reaching $369.3 million for September and $1,121.3 million for Q3 2023.
The combined ratio improved to 89.7 for September and 92.4 for Q3 2023.
Policies in force showed growth across personal, special, and commercial lines.
Forward Guidance
The company has scheduled its Q3 investor relations conference call for November 1, 2023, and plans to file its Quarterly Report on Form 10-Q with the SEC on October 31, 2023. October results are expected to be released on November 17, 2023.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...