PGR PROGRESSIVE CORP/OH/
Price Chart
Executive Summary
Progressive reported April 2026 monthly results: net premiums earned grew 7% YoY to $7.1B, net income rose 10% to $1.09B, and diluted EPS increased 11% to $1.86. However, the combined ratio deteriorated 5.3 points to 90.2%, driven by elevated catastrophe losses (7.0% net catastrophe loss ratio vs. prior year). The company provided no additional commentary and no forward guidance.
Actionable Insight
Monitor the combined ratio trajectory in upcoming monthly releases; if catastrophe losses persist above historical norms, underwriting margin compression could pressure earnings. May results expected June 17, 2026.
Key Facts
- Net premiums earned: $7.1B in April 2026, up 7% YoY from $6.6B
- Net income: $1.09B in April 2026, up 10% YoY from $986M
- Diluted EPS: $1.86 in April 2026, up 11% YoY from $1.68
- Combined ratio: 90.2% in April 2026, deteriorating 5.3 points from 84.9% in April 2025
- Net catastrophe loss ratio: 7.0% in April 2026, primarily from hail and thunderstorm events
- Total policies in force: 39.8M as of April 30, 2026, up 8% YoY
- Total revenues: $7.98B in April 2026, up from $7.0B in April 2025
- Total net realized gains on securities: $402M in April 2026 vs. ($3M) loss in April 2025
- Book value per share: $56.29 as of April 30, 2026
- Trailing 12-month ROE (net income): 35.1%
Financial Impact
Monthly earnings release with 7% premium growth and 10% net income growth, but combined ratio deterioration of 5.3 points to 90.2% due to catastrophe losses. No guidance provided.
Risk Factors
- Elevated catastrophe losses (7.0% net catastrophe loss ratio) driving combined ratio deterioration
- Property segment combined ratio of 101.3% indicates underwriting losses in that line
- No forward guidance provided limits visibility into near-term earnings trajectory
Market Snapshot
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000080661-26-000204 |
| Document: pgr-20260520.htm | 0000080661-26-000204 |
| Document: 0000080661-26-000204-index-headers.html | 0000080661-26-000204 |
| Document: 0000080661-26-000204-index.html | 0000080661-26-000204 |
| Document: 0000080661-26-000204.txt | 0000080661-26-000204 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
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Jun 8, 2026
6d ago
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Insider Cluster
| $201.49 awaiting T+5 | awaiting T+5 | — | $203.11 (+0.80%) |
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May 20, 2026
25d ago
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8-K
| $202.55 $194.50 | ▼ −3.97% | ▼ −5.78% | $203.11 (+0.28%) |
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May 20, 2026
25d ago
|
Press Release
| $202.55 $194.50 | ▼ −3.97% | ▼ −5.78% | $203.11 (+0.28%) |
|
May 18, 2026
28d ago
|
Court Ruling
| $203.69 $198.73 | ▼ −2.44% | ▼ −4.05% | $203.11 (−0.28%) |
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May 13, 2026
4w ago
|
Court Ruling
| $195.94 $202.55 | ▼ −3.37% | ▼ −3.51% | $203.11 (−3.66%) |
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May 12, 2026
4w ago
|
8-K
| $198.38 $204.00 | ▲ +2.83% | ▲ +2.76% | $203.11 (+2.39%) |
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Apr 15, 2026
8w ago
|
8-K
| $201.25 $202.55 | ▲ +0.65% | ▼ −0.99% | $203.11 (+0.93%) |
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Apr 15, 2026
8w ago
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Press Release
| $201.25 $202.55 | ▼ −0.65% | ▲ +0.99% | $203.11 (−0.93%) |
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Mar 24, 2026
11w ago
|
Press Release
| $206.13 $198.18 | ▼ −3.86% | ▼ −3.43% | $203.11 (−1.46%) |
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Mar 23, 2026
11w ago
|
DEFA14A
| $205.11 $201.38 | ▼ −1.82% | ▲ +1.74% | $203.11 (−0.97%) |
US Market Status
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