Progressive Corp. (PGR)
NYSE:PGR
Earnings Data
Report Date
Jul 22, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
―Last Year’s EPS
4.88Same Quarter Last Year
Moderate Buy
Based on 16 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized a very strong 2025 characterized by exceptional growth and profitability: ~ $9B net premiums written, ~3.7M new policies, comprehensive income near $13B, comprehensive ROE ~40%, and investment portfolio returns of 7.33%. Management reinforced disciplined capital and investment policies (variable dividend of $13.50/share, targeted leverage <30%, conservative investment guidelines) while pursuing growth via higher operating leverage and strategic initiatives (Three Horizons, product diversification, AI/UBI). Notable challenges were acknowledged but comparatively smaller in scale: Florida rate cuts and a $1.2B policyholder credit, softer personal-line premium growth in parts of the year, trucking headwinds, and areas of BI severity to watch. Overall, the positives (substantial growth, industry-leading returns, strong investment performance, and active capital returns) outweigh the highlighted risks and operational headwinds.Company Guidance
Strong Premium and Policy Growth
Added almost $9 billion in net premiums written in 2025 and nearly 3.7 million additional policies in force; personal vehicles PIF grew ~12% (almost 3.5 million policies), equating to ~5.5 million more vehicles insured vs year-end 2024. Management estimates roughly +2 percentage points of U.S. private passenger auto market share year-over-year, to ~18.5% market share.
Exceptional Profitability and ROE
Earned almost $13 billion in comprehensive income in 2025 across operating and investing units, producing a comprehensive return on equity of ~40% and an enterprise combined ratio below 90 for 2025 (management target: grow at <=96 combined ratio).
Investment Performance and Portfolio Scale
Investment portfolio returned 7.33% in 2025, with after-tax investment contribution just under $5 billion; portfolio approached $100 billion (manages >$95 billion year-end) and average credit quality at AA-.
Capital Actions — Dividend and Buybacks
Board approved and paid a $13.50 per share variable dividend in January 2026 (funded from ~ $13 billion held at holding company, leaving ~ $5 billion), and repurchases accelerated in January 2026 (one month of repurchases roughly equaled all of 2025 activity).
Regulatory Approval to Increase Operating Leverage
Received regulatory approval for operating leverage up to a maximum of 3.5:1 premiums-to-surplus; enterprise premiums-to-surplus moved closer to 3 in 2025 with ~$1.6 billion incremental capital freed up during the year.
Commercial Lines Execution and Diversification
Commercial Lines delivered excellent profitability with PIF growth primarily from business auto and contractor risks; management continuing to expand adjacent products (e.g., BOP in 46 states, protective acquisition) as part of Three Horizons strategy.
Disciplined Investment & Risk Controls
Maintains conservative, guideline-driven investment posture (Group 1 risk exposures well below limits, minimum average credit rating A+, current AA-), a duration of ~3.5 years (higher but intentional), and a public target to keep debt-to-capitalization under 30% (financial leverage reported below ~20% after dividend).
Innovation and AI Adoption
Company reiterates strong focus on AI and digital innovation across underwriting, claims and marketing (example: AI-generated commercial campaign performed well), investment in UBI/driver data (tens of billions of miles) to support pricing precision.
PGR Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
PGR Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 03, 2026 | $213.30 | $213.24 | -0.03% |
Oct 15, 2025 | $225.93 | $212.86 | -5.78% |
Jul 16, 2025 | $227.53 | $231.53 | +1.76% |
Apr 16, 2025 | $259.28 | $258.36 | -0.35% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Progressive Corp. (PGR) report earnings?
Progressive Corp. (PGR) is schdueled to report earning on Jul 22, 2026, TBA (Confirmed).
What is Progressive Corp. (PGR) earnings time?
Progressive Corp. (PGR) earnings time is at Jul 22, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
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What is PGR EPS forecast?
Currently, no data Available