Progressive (PGR) Q2 Earnings and Revenues Beat Estimates

Company Performance - Progressive reported quarterly earnings of $4.88 per share, exceeding the Zacks Consensus Estimate of $4.43 per share, and up from $2.65 per share a year ago, representing an earnings surprise of +10.16% [1] - The company posted revenues of $21.62 billion for the quarter ended June 2025, surpassing the Zacks Consensus Estimate by 0.51%, and an increase from $18.26 billion year-over-year [2] - Over the last four quarters, Progressive has surpassed consensus EPS estimates three times and topped consensus revenue estimates four times [2] Future Outlook - The sustainability of the stock's price movement will depend on management's commentary during the earnings call and the earnings outlook for the coming quarters [3][4] - The current consensus EPS estimate for the upcoming quarter is $3.67 on revenues of $22.46 billion, and for the current fiscal year, it is $16.84 on revenues of $87.46 billion [7] - The estimate revisions trend for Progressive was mixed ahead of the earnings release, resulting in a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Insurance - Property and Casualty industry, to which Progressive belongs, is currently in the top 31% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]