The Progressive Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026 with the SEC on November 2, 2026, reporting third-quarter net income of $2.542 billion on net premiums earned of $21.869 billion.

Key Highlights

  • Net premiums earned: $21.869 billion for Q3 2026, up from $20.849 billion in Q3 2025, and $64.410 billion for the nine months ended September 30, 2026, compared with $60.568 billion in the prior-year period.
  • Net income: $2.542 billion for Q3 2026 versus $2.615 billion in Q3 2025; nine-month net income was $8.671 billion versus $8.357 billion.
  • Diluted EPS: $4.37 for the third quarter and $14.83 for the nine months ended September 30, 2026, compared with $4.45 and $14.21 in the respective prior-year periods.
  • Total assets: $127.744 billion as of September 30, 2026, versus $123.039 billion at December 31, 2025.
  • Total shareholders' equity: $34.485 billion at September 30, 2026, compared with $30.323 billion at December 31, 2025.
  • Other comprehensive loss: $(2.847) billion for the nine months ended September 30, 2026, driven by net unrealized losses on fixed-maturity securities of $(2.847) billion, resulting in accumulated other comprehensive loss of $(2.744) billion.
  • Treasury shares purchased: $1.525 billion charged to retained earnings for the nine months ended September 30, 2026, versus $105 million in the prior-year period.

Progressive's Q3 2026 Financial Results: Income, Losses, and Balance Sheet

According to the filing, The Progressive Corporation (NYSE:PGR) reported total revenues of $23.192 billion for the three months ended September 30, 2026, compared with $22.512 billion in the same period of 2025. For the nine-month period, total revenues were $68.989 billion versus $64.925 billion. Investment income contributed $1.035 billion in Q3 2026 and $2.931 billion for the nine months, up from $924 million and $2.609 billion respectively in the prior-year periods. The company also reported net realized losses on securities of $(170) million for Q3 2026, compared with gains of $295 million in Q3 2025.

On the expense side, the filing disclosed losses and loss adjustment expenses of $14.904 billion for Q3 2026, up from $13.445 billion in Q3 2025. Total expenses for the quarter were $19.956 billion versus $19.189 billion. The prior-year quarter included a policyholder credit expense of $950 million that did not recur in Q3 2026. Income before income taxes was $3.236 billion for Q3 2026 compared with $3.323 billion in Q3 2025. The provision for income taxes was $694 million and $708 million for the respective periods.

On the balance sheet, total investments stood at $99.197 billion at September 30, 2026, up from $97.373 billion at December 31, 2025. Loss and loss adjustment expense reserves increased to $46.786 billion from $43.310 billion at year-end 2025. Total debt was $8.389 billion at September 30, 2026, compared with $6.897 billion at December 31, 2025. The company reported 579,362,175 common shares outstanding as of October 1, 2026. Cash dividends declared on common shares were $0.10 per share for Q3 2026 and $0.30 per share for the nine-month period.

What Was Disclosed

Progressive filed its unaudited consolidated financial statements for Q3 2026 and the nine months ended September 30, 2026, covering revenues, expenses, net income, earnings per share, balance sheet data, cash flows, and changes in shareholders' equity for The Progressive Corporation and its subsidiaries.