Collision claim frequency was down 8-9% in the third quarter compared to last year. Berkshire Hathaway reported its earnings for the third quarter of 2024 on November 2, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. GEICO’s pre-tax underwriting earnings were $5.747 billion in the first nine […]
Axalta Reports Record Third Quarter Sales
Axalta Coating Systems Ltd. (NYSE:AXTA) announced third quarter 2024 net sales increased 0.8% year over year to a third quarter company record of $1.32 billion as contribution from the CoverFlexx acquisition announced earlier this year and volume growth were partially offset by contractual raw material index impacts and mix headwinds. Net income in the quarter […]
CCC Reports Revenue of Over $238 Million in Third Quarter
CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS), total revenue was $238.5 million for the third quarter of 2024 ended September 30, an increase of 8% from $221.1 million for the third quarter of 2023. GAAP gross profit was $183.4 million, representing a gross margin of 77%, for the third quarter of 2024, compared with $163.1 […]
Enterprise Mobility Reports $38 Billion Revenue in Fiscal 2024
Enterprise Mobility reported that its continued focus on developing its mobility portfolio, along with strong global growth, helped drive record revenue of more than $38 billion the company and its subsidiaries and affiliate Enterprise Fleet Management, in fiscal year 2024 (FY24). “We’ve set an ambitious vision to be recognized as the world’s best and most […]
LKQ Corporation Reports Revenue of $3.6 Billion in Third Quarter
Overall revenue up 0.5% compared to last year. Parts and services organic revenue up in Europe, down in North America. LKQ Corporation (NASDAQ: LKQ) today reported revenue for the third quarter of 2024 was $3.6 billion, an increase of 0.5% compared to $3.6 billion for the third quarter of 2023. Parts and services organic revenue […]
Progressive Reports Personal Auto Policies in Force Up Nearly 17% in September
Premiums written up 25% in the third quarter year-over-year. The Progressive Corporation (NYSE: PGR) reported its total personal auto insurance policies in force were 22,803,500 in September an increase of 3,285,900 or 16.8% from 19,517,600 in September 2023. September was also up from 21,541,600 personal auto policies in June at the end of the second […]
PPG Reports Third Quarter Sales of $4.6 Billion
Overall sales for the company were down 1% compared to last year. U.S. refinish sales up high single digit percentage despite lower collision claims. Announces sale of U.S. and Canada architectural coating business. PPG (NYSE:PPG) yesterday reported net sales of $4.575 billion for the third quarter of 2024, down 1% from $4.644 billion in the […]
U.S. Property/Casualty Industry Records $3.8 Billion Underwriting Gain in First-Half 2024
The U.S. property/casualty (P/C) industry recorded a $3.8 billion net underwriting gain in the first half of 2024, a significant improvement from the $24.0 billion loss recorded in the same prior-year period, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, “First Look: Six-Month 2024 […]
Copart Reports Fiscal 2024 Full Year Revenue Up 9.5% to $4.2 Billion
Copart, Inc. (NASDAQ: CPRT) reported financial results for the quarter ended July 31, revenue, gross profit, and net income attributable to Copart, Inc. were $1.1 billion, $454 million, and $323 million, respectively. These represent an increase in revenue of $71.4 million, or 7.2%; a decrease in gross profit of $(4.0) million, or (0.9)%; and a […]
Property/Casualty Insurance Strong Results Driven by Personal Auto Turnaround
Fitch Ratings reports improvements in Property/Casualty insurers’ mid-year 2024 results in North America. The mid-year 2024 GAAP financial results for 41 North American property/casualty (p/c) (re)insurers reveals very strong operating returns across sectors, driven by improved underwriting results and higher investment income, Fitch Ratings says in a new report. Double-digit operating return on common equity […]
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