Progressive Corp. Q4 Profit Sharply Declines
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.
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