The Progressive Corporation (NYSE:PGR) Q1 2024 Earnings Conference Call May 7, 2024 9:30 AM ET
Company Participants
Douglas Constantine - Director of Investor Relations
Tricia Griffith - President & Chief Executive Officer
Pat Callahan - Personal Lines President
John Sauerland - Chief Financial Officer
Conference Call Participants
Bob Huang - Morgan Stanley
Michael Zaremski - BMO
Elyse Greenspan - Wells Fargo
Gregory Peters - Raymond James
Josh Shanker - Bank of America
Michael Phillips - Oppenheimer
David Motemaden - Evercore
Jimmy Bhullar - JPMorgan
Meyer Shields - KBW
Mike Ward - Citi
Brian Meredith - UBS
Yaron Kinar - Jefferies
Douglas Constantine
Good morning, and thank you for joining us today for Progressive's First Quarter Investor Event. I'm Douglas Constantine, Director of Investor Relations, and I will be moderator for today's event.
The company will not make detailed comments related to its results in addition to those provided in its annual report on Form 10-K, quarterly reports on Form 10-Q and the letter to shareholders, which have been posted to the company's website.
Although our quarterly Investor Relations events often include a presentation on a specific portion of our business, we will instead use the 60 minutes scheduled for today's event for introductory comments by our CEO and a question-and-answer session with members of our leadership team. The introductory comments by our CEO were previously recorded.
Upon completion of the previously recorded remarks, we will use the balance of the 60 minutes scheduled for this event for live questions and answers with members of our leadership team.
As always, discussions in this event may include forward-looking statements. These statements are based on management's current expectations and are subject to many risks and uncertainties that could cause actual events and results to differ materially from those discussed during today's event.
Additional information concerning those risks and uncertainties is available in our annual report on Form 10-K for the year ended December 31, 2023, as supplemented by our Form 10-Q for the first quarter of 2024 where you will find discussions of the risk factors affecting our businesses, safe harbor statements related to forward-looking statements and other discussions of the challenges we face. These documents can be found via the Investor Relations section of our website at investors.progressive.com.
To begin today, I'm pleased to introduce our CEO, Tricia Griffith, who will pick us of introductory comments. Tricia?
Tricia Griffith
Good morning, and thank you for joining us today. In many ways, this first quarter has felt like we have turned a page. Since mid-2021, inflationary pressure and its subsequent effect on our profit margins has been a predominant factor in our strategic decision making.