The Progressive (PGR) Revenue — Quarter Ended Jun 30, 2024
The company reported another quarter of revenue growth, extending its upward trajectory. The increase reflects continued strong business momentum.
Key takeaway
Quarter ended Jun 30, 2024 · FY2024 Q2
The company reported another quarter of revenue growth, extending its upward trajectory. The increase reflects continued strong business momentum.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$18.1B
Revenue reported for this quarter.
Quarter-over-quarter
+5.2%
Change from the immediately preceding quarter.
Year-over-year
+18.1%
Change from the comparable year-ago quarter.
Trailing four quarters
$67.8B
Sum of the latest four reported quarters.
Quarterly revenue trend
The latest four reported quarters with year-over-year comparisons.
| Period ended | Revenue | Year-over-year change |
|---|---|---|
| Sep 30, 2023 | $15.6B | +21.8% |
| Dec 31, 2023 | $16.9B | +25.4% |
| Mar 31, 2024 | $17.2B | +20.6% |
| Jun 30, 2024 | $18.1B | +18.1% |
Revenue performance
Revenue rose compared to both the prior quarter and the same period last year, with the year-over-year gain remaining robust. The sequential improvement marks the fourth consecutive quarter of higher revenue.
Quarterly comparison
When measured against the immediately preceding quarter, revenue advanced at a moderate pace. Versus the same quarter one year earlier, the increase was substantially larger, indicating sustained year-over-year acceleration.
What to watch
The company's underwriting margin exceeded its internal goal, but recent rate decreases in some personal auto states may warrant monitoring.