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Progressive earnings: Trend is not your friend

weighted chart july 16 main image IPC.jpg

Progressive reported $0.06 in operating EPS (vs. $0.61 YoY), with net written premiums up 13.3% YoY. The combined ratio for June was 100.5%, up nearly 8pts YoY. The Street was at a very optimistic $0.36/ share.

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