The Progressive Corporation · PGR · Next earnings

The Progressive Corporation reports Wednesday, Oct 21, 2026

PGR reports before market open with consensus EPS at $4.10 and revenue at $22.37B. Last quarter: Progressive Caps Record 2025 With $9B Net Premiums and 40% ROE

Reports Before market open31 days awayDate estimated Financial Services

What the street expects

Consensus for the coming report
Consensus EPS $4.10 Calendar consensus
Consensus revenue $22.37B Calendar consensus
Report date Oct 21, 2026 Wednesday, date estimated
Session Before market open 31 days away

Where PGR left off: FY2025 Q4

Full report

Progressive Caps Record 2025 With $9B Net Premiums and 40% ROE

EPS surprise +5.2% Reported $4.67 vs $4.44
Revenue surprise -3.9% Reported $19.51B vs $20.30B
Stock move +2.2% Event window
Subsequent drift -0.5% Up to 20 sessions

Management maintained its guidance stance, continuing to target the 3.5:1 operating leverage ratio, a variable dividend policy with modest share repurchases, and the Three Horizons product pipeline expansion including life and pet insurance. No explicit forward numerical guidance was provided, consistent with Progressive's historical practice.

What to watch on the call

Carried forward from the last transcript

Risks management flagged

  • Regulatory changes affecting rates and capital requirements, including Florida reforms and proposed New York fraud legislation
  • Catastrophe exposure, particularly in Florida where losses can spike late in the year
  • Macroeconomic and geopolitical uncertainty impacting investment portfolio volatility
  • Inflation-driven severity pressures, especially in bodily-injury claims
  • Competitive pressure in personal and commercial auto markets

Questions analysts left open

  • Trend in auto severity and bodily-injury costs
  • Impact of autonomous-vehicle technology on claim frequency and severity
  • Effectiveness of AI initiatives on loss-adjustment and claim efficiency
  • Florida premium pricing and its influence on combined ratio
  • Potential for increased investment risk as portfolio leverage rises

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Recent PGR quarters

All PGR earnings
+2.2%FY2025 Q4

Sources

  1. FN2 corporate events calendar, resolved from the earnings calendar feed
  2. FN2 earnings calendar analyst consensus
  3. Earnings call transcript analysis, FY2025 Q4

Methodology

The report date comes from FN2's resolved corporate-events calendar and is marked estimated until the company confirms it. Consensus figures are the calendar's latest analyst estimates for the fiscal period and are not an FN2 forecast.

Risks and open questions are carried forward verbatim from FN2's structured analysis of the previous earnings call. Missing values stay missing and are never estimated.

By FN2 Research · Updated . For educational purposes only; not investment advice.