LKQ Corporation (NASDAQ:LKQ) today reported revenue for the third quarter of 2023 was $3.6 billion, an increase of 15.0% compared to $3.1 billion for the third quarter of 2022. Parts and services organic revenue increased 3.0% during the quarter and 4.3% on a per day basis. Foreign exchange rates increased revenue by 3.6% and the […]
PPG Reports Record Third Quarter Sales of $4.6 billion
Net sales were up 4% year over year. PPG (NYSE:PPG) today reported net sales of $4.644 billion for the third quarter 2023, up 4% from $4.468 billion last year. Net income was $426 million, up 29% from $329 million in the third quarter of 2022. Tim Knavish, PPG chairman and chief executive officer, commented on […]
Progressive Reports Personal Auto Policies in Force Down Slightly Month-Over-Month in September
Total personal auto policies in force are just 10,000 lower for the month but remain up 12% from last year. Net written premiums up 22% year-over-year. The Progressive Corporation (NYSE:PGR) reported its total personal auto insurance policies in force were 19,518,600 in September, down 0.5% from 19,527,800 in August. September’s policies in force represent an […]
Progressive Reports Personal Auto Policies in Force Down Month-Over-Month in August
Total personal auto policies in force remain up over 13% from last year. The Progressive Corporation (NYSE:PGR) reported its total personal auto insurance policies in force were 19,527,800 in August, down 0.6% from 19,642,900 in July. August’s policies in force represent an increase of 12.6% from 17,336,300 in August 2022. Growth appears to have slowed […]
Copart Reports Revenue Up Nearly 13% in Fiscal Fourth Quarter
Copart, Inc. (NASDAQ: CPRT) today reported revenue for its fiscal fourth quarter ended July 31, $997.6 million an increase in revenue of $114.2 million, or 12.9% from the same period a year ago. Gross profit for the quarter was $457.6 million, up $76.0 million, or 19.9% from the previous year. Net income was $347.8 million […]
U.S. Property/Casualty Industry Records $24.5 Billion Underwriting Loss in the First Half of 2023
The U.S. property/casualty (P/C) industry recorded a $24.5 billion net underwriting loss in the first half of 2023, nearly eclipsing the $26.5 billion in total losses recorded for all of 2022, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, First Look: 6-Month 2023 US Property/Casualty […]
Progressive Reports Personal Auto Policies in Force Down Slightly for Second Month in a Row
Total personal auto policies in force remain up over 14% from last year. The Progressive Corporation (NYSE:PGR) reported its total personal auto insurance policies in force were 19,642,900 in July. July’s policies in force represent an increase of 14.0% from 17,233,900 in July 2022, but down 0.08% from 19,658,300 in June. Growth appears to have […]
Boyd Group Reports Sales of Over $753 Million in Second Quarter
Overall sales were up more than 22%. Same store sales up almost 19%. Boyd Group Services Inc. (TSE: BYD) today announced sales increased by 22.9% to $753.2 million in the second quarter ended June 30, from $612.8 million in the same period of 2022. Same-store sales increased by 18.9%. The second quarter of 2023 had […]
GEICO Reports Collision Claims Severity 7-9% Higher in First Half of 2023 Compared to Last Year
Frequency was down for first half. Policies in force down 14.4% as company reduces advertising and focuses on profitability. Berkshire Hathaway reported its second quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on August 5. GEICO’s pre-tax underwriting earnings in the first six months of […]
Driven Brands Reports Second Quarter Revenue Up 19%
Paint, Collision & Glass segment same-store sales up over 12%. Driven Brands Holdings Inc. (NASDAQ:DRVN) on August 2 reported revenue of $606.9 million for the second quarter ended July 1, up 19% compared to last year. System-wide sales were $1.7 billion, up 18 percent versus the prior year driven by 8 percent same-store sales growth […]
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