Progressive is trading 8.55% lower at $202 after third-quarter results missed earnings and revenue estimates.

  • Reported EPS was $4.37 versus estimates of $4.42; revenue was $22.3 billion, below the $22.5 billion consensus.
  • Policies-in-force growth was slower than expected, despite an improved 88.7% combined ratio; the move followed the premarket earnings release.