earnings
confidence high
sentiment negative
materiality 0.50
Progressive July net income down 12% to $961M; combined ratio 86.8 vs 85.3
PROGRESSIVE CORP/OH/
2026-Q2 EPS
reported $10.47
vs consensus $4.87
▲ beat
(+114.9%)
- July net premiums written $7,441M (+5% YoY); net premiums earned $7,355M (+5%).
- Net income $961M (-12% YoY); diluted EPS $1.65 vs $1.85; pretax realized losses on securities -$47M.
- Combined ratio 86.8 vs 85.3 (1.5 pts worse); catastrophe loss ratio 2.1 pts.
- YTD net income $7,090M (+4% YoY); diluted EPS $12.12 vs $11.62; NPW $52,159M (+6%).
- Policies in force 40.3M (+7% YoY); book value per share $59.64.