For the quarter ended March 2025, Progressive (PGR) reported revenue of $20.62 billion, up 20.7% over the same period last year. EPS came in at $4.65, compared to $3.73 in the year-ago quarter.
The reported revenue represents a surprise of +1.24% over the Zacks Consensus Estimate of $20.37 billion. With the consensus EPS estimate being $4.72, the EPS surprise was -1.48%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Progressive performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Companywide Total - Expense ratio: 20.2% versus 20.4% estimated by seven analysts on average.
- Companywide Total - Combined ratio: 86% compared to the 86.3% average estimate based on seven analysts.
- Companywide Total - Loss/LAE ratio: 65.8% compared to the 65.4% average estimate based on seven analysts.
- Property Business - Combined ratio: 87.2% versus 89.1% estimated by six analysts on average.
- Service revenues: $111 million compared to the $107.08 million average estimate based on seven analysts. The reported number represents a change of +31.8% year over year.
- Net premiums earned: $19.41 billion versus $19.17 billion estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +20.2% change.
- Investment income: $814 million versus $794.73 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +31.8% change.
- Fees and other revenues: $287 million versus the six-analyst average estimate of $291.13 million. The reported number represents a year-over-year change of +21.4%.
- Net premiums earned- Personal Lines- Direct: $8.91 billion versus $8.75 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +26.9% change.
- Net premiums earned- Commercial Lines: $2.70 billion compared to the $2.67 billion average estimate based on six analysts. The reported number represents a change of +5.5% year over year.
- Net premiums earned- Personal Lines- Agency: $7.03 billion versus the six-analyst average estimate of $6.93 billion. The reported number represents a year-over-year change of +19.9%.
- Net premiums earned- Personal lines: $16.71 billion versus the six-analyst average estimate of $15.68 billion. The reported number represents a year-over-year change of +29.8%.
View all Key Company Metrics for Progressive here>>>
Shares of Progressive have returned -2.5% over the past month versus the Zacks S&P 500 composite's -4.2% change. The stock currently has a Zacks Rank #2 (Buy), indicating that it could outperform the broader market in the near term.
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The Progressive Corporation (PGR): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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