PGR
The Progressive Corporation231.81
-4.55-1.93%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
AI, autonomy details in Q&A
Q&A delved into operational risks and tech bets absent from the capital deep-dive, with management deeming auto severity flat and non-concerning despite BI watchpoints. Andrew Quigg detailed autonomous modeling showing decades of robust personal and commercial auto growth, positioning Progressive's data and UBI strengths to adapt. AI investments yield efficiencies via predictive models and a new Strategy Council eyeing 3-5 year shifts, including agentic distribution tweaks. Frequency could nudge higher in softening markets; regs met with affordability wins like $1.5B loyalty savings. Q&A reaffirmed growth at ≤96 CR. Watch AI payoff and reform impacts.
Key Stats
Market Cap
135.93BP/E (TTM)
12.72Basic EPS (TTM)
18.22Dividend Yield
0.02%Recent Filings
8-K
8-K
February premiums up 5%
Progressive reported February 2026 net premiums written up 5% to $6,995 million, with net income rising 2% to $943 million, yet combined ratio slipped 3.1 points to 85.7 amid higher losses. Policies in force grew 10% to 39.2 million, driven by personal lines auto. Growth tempered by reporting nuance; March results due April 15.
10-K
FY2025 results
Progressive's FY2025 net premiums written hit $83.2B, up 12% y/y, with Personal Lines driving 87% at $72.6B (14% growth, 87.5 combined ratio) while Commercial Lines added 13% ($10.6B, 87.0 combined ratio). Q4 capped robust momentum: Personal auto PIFs grew 13% y/y amid lower frequency and reforms; property PIFs rose 4% despite repositioning; no catastrophe losses ceded. Investment portfolio swelled to $97.4B, yielding $4.3B income. Strong capital fueled $13.50/share variable dividend and buybacks. Yet catastrophe losses from severe weather could dent quarterly momentum.
8-K
January profits, premiums rise 4%
Progressive posted January 2026 results with net premiums written up 4% to $6,735 million and net income up 4% to $1,163 million versus prior year, driven by 5% earned premium growth. Combined ratio ticked up 0.3 points to 84.4 amid higher losses, yet policies in force surged 10% to 38.9 million. Steady underwriting shines.
8-K
Strong results, CFO transition
Progressive posted strong December results with net premiums written up 6% to $6,313M and net income surging 22% to $1,147M, while full-year net income hit $11,308M versus $8,480M last year; combined ratio ticked up 3.0 points to 87.1. CFO John Sauerland retires July 3, 2026, after 35 years, succeeded by Chief Strategy Officer Andrew Quigg. Transition ensures continuity.
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