earnings
confidence high
sentiment negative
materiality 0.85
Progressive September net income falls 48%, books $950M Florida policyholder credit; quarterly EPS up 12%
PROGRESSIVE CORP/OH/
2025-Q3 EPS
reported $14.21
vs consensus $5.09
▲ beat
(+179.3%)
- September net income $305M ($0.52 EPS) vs $585M ($0.99) a year ago; combined ratio 100.4 vs 93.4.
- Recorded $950M liability for Florida personal auto policyholder credits due to statutory profit limit; reduces September earnings.
- Quarterly net income $2,615M ($4.45 EPS) up 12% YoY; net premiums earned $20.8B up 14%; combined ratio 89.5 vs 89.0.
- Policies in force grew 12% to 38.1M; personal lines agency auto up 13%, direct auto up 17%.
- YTD net income $8.4B ($14.21 diluted EPS) up 36% vs $6.1B ($10.39); total portfolio return 6.1%.