For the quarter ended March 2026, Progressive (PGR) reported revenue of $22.31 billion, up 8.2% over the same period last year. EPS came in at $4.96, compared to $4.65 in the year-ago quarter.
The reported revenue represents a surprise of +1.27% over the Zacks Consensus Estimate of $22.03 billion. With the consensus EPS estimate being $4.84, the EPS surprise was +2.48%.
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: 20.5% versus the six-analyst average estimate of 20.6%. Companywide Total - Combined ratio: 86.4% versus 86.7% estimated by six analysts on average. Companywide Total - Loss/LAE ratio: 65.9% compared to the 66.1% average estimate based on six analysts. Personal Lines Business - Property - Combined ratio: 78.3% versus the five-analyst average estimate of 81.7%. Net premiums earned: $20.97 billion versus the seven-analyst average estimate of $20.66 billion. The reported number represents a year-over-year change of +8%. Investment income: $917 million versus $930.25 million estimated by seven analysts on average. Compared to the year-ago quarter, this number represents a +12.7% change. Service revenues: $126 million compared to the $123.22 million average estimate based on seven analysts. The reported number represents a change of +13.5% year over year. Net premiums earned- Commercial Lines: $2.58 billion compared to the $2.55 billion average estimate based on six analysts. The reported number represents a change of -4.3% year over year. Net premiums earned- Personal lines: $18.38 billion versus the six-analyst average estimate of $18.06 billion. The reported number represents a year-over-year change of +10%. Net premiums earned- Personal Lines- Agency: $7.48 billion versus $7.38 billion estimated by six analysts on average. Compared to the year-ago quarter, this number represents a +6.5% change. Fees and other revenues: $297 million compared to the $309.98 million average estimate based on six analysts. The reported number represents a change of +3.5% year over year. Net premiums earned- Property: $770 million versus the six-analyst average estimate of $752.43 million. The reported number represents a year-over-year change of -0.8%.View all Key Company Metrics for Progressive here>>>
Shares of Progressive have returned -3.5% over the past month versus the Zacks S&P 500 composite's +5.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.5 Stocks Set to Double
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This article originally published on Zacks Investment Research (zacks.com).