The Progressive (PGR) Revenue — Quarter Ended Sep 30, 2024
Revenue rose in the current quarter, accelerating from the previous period and posting a strong increase compared to the same quarter last year.
Key takeaway
Quarter ended Sep 30, 2024 · FY2024 Q3
Revenue rose in the current quarter, accelerating from the previous period and posting a strong increase compared to the same quarter last year.
Financial snapshot
Reported revenue, sequential change, year-over-year change, and trailing four-quarter revenue.
Quarter revenue
$19.7B
Revenue reported for this quarter.
Quarter-over-quarter
+8.7%
Change from the immediately preceding quarter.
Year-over-year
+26.7%
Change from the comparable year-ago quarter.
Trailing four quarters
$72B
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 |
|---|---|---|
| Dec 31, 2023 | $16.9B | +25.4% |
| Mar 31, 2024 | $17.2B | +20.6% |
| Jun 30, 2024 | $18.1B | +18.1% |
| Sep 30, 2024 | $19.7B | +26.7% |
Revenue performance
The company reported higher revenue, with sequential improvement and a substantial year-over-year gain, driven by broad-based premium and policy growth across all operating segments.
Quarterly comparison
Relative to the immediately preceding quarter, revenue increased at a faster pace, while compared to the same quarter one year ago, growth remained elevated.
What to watch
Monitor whether underwriting profitability can sustain its improvement given the continued rapid premium growth.