earnings
confidence high
sentiment positive
materiality 0.75
Progressive February net income $928M (+26% YoY); combined ratio 82.6% vs 86.8%
PROGRESSIVE CORP/OH/
- Net premiums written $6,684M (+17% YoY); net premiums earned $6,036M (+18%).
- Diluted EPS $1.58 vs $1.24; combined ratio improved 4.2 pts to 82.6%.
- Total policies in force 35.6 million (+18%); personal auto direct +25%, agency +18%.
- YTD Feb net income $2,045M vs $1,438M; diluted EPS $3.48 vs $2.42.
- Book value per share $48.48; trailing 12-month ROE 36.5%.