Jun 2026 (Q2 FY26) — Aug 4, 2026
Progressive Q2 FY26 — Property Turnaround Complete, Focused on Bundled Growth
Read the full callProgressive (PGR) earnings
- Jun 2026
- Jun 2026 (Q2 FY26)
- Dec 2025
Progressive earnings: last reported Tue, 4 Aug 2026, for the quarter ended Jun 2026.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 23,609 | +7.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | Operating profit / revenue | Quarter to Jun 2026 | Not in the filed figures for the quarter to jun 2026. No older figure is substituted. | ||
| Net profit | 3,311 | +4.3% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
Guidance
What management said, and what became of it
4 of 4 judged targets kept · 7 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| CFO transition from John Sauerland to Andrew Quigg | Andrew Quigg to assume the CFO role in July 2026 on John Sauerland's retirement | Dec 2025 | And so as CFO, I plan to have the same approach that we've had historically | Achieved |
| Enterprise calendar-year combined ratio at or below 96 | Grow as fast as we can at or below a 96 combined ratio at the enterprise level, as long as we can service customers | Mar 2024 | our objective is to grow as fast as possible at or below a 96 while delivering high-quality customer service | On Track |
7 of PROGRESSIVE CORP/OH/'s 11 targets are still open. See which are on track and which have gone quiet. The 2 above are the free sample; 9 more targets are in the full ledger.
Claimed
- Achieved milestone of becoming largest U.S. personal auto writer in trailing 12-month period by direct premiums written.
- Personal Lines PIF growth of 8% (including 8% in agency auto, 10% in direct auto), surpassing 40 million total PIFs.
- Property business turnaround substantially complete, with combined ratio of 75% in 2025 and 78% year-to-date 2026, and 41 states now 'healthy and well positioned for growth' (up from 18 in May 2025).
- Reduced high weather risk state total insured value mix by 23% and 1 in 100-year probable maximum loss by nearly 33% since 2022, while total insured value increased 30%.
- Generated nearly 0.5 million Robinsons (bundled auto+home customers) since 2023 through cross-selling efforts.
- Commercial Lines saw positive new app growth in Q2, especially June, and PIF growth year-over-year is up 30%.
Qualified
- Auto growth rates have slowed from peak levels in 2024 and 2025, with competition increasing and shopping activity leveling off.
- Property win rate on comparative raters reduced due to significant rate actions and increased market participation (average carriers returning rates up >30% since Q1 2024).
- Agency Robinson PIF growth was flat in 2025 due to intentional repositioning of property for profitability.
Price
$219.11 +0.28% · +$0.62
Performance −2.9% 1Y
1Y: $225.61 on 17 Oct 2025 → $219.11. High $236.36 (15 Dec 2025), low $190.4 (29 May 2026).
- Previous close
- $218.49
- 52-week range
- $190.4 – $236.36
- One year
- −0.12%
Overview
- Symbol
- PGR
- Sector
- Financials
- Exchange
- US
- Currency
- USD
Guidance
What management said, and what became of it
4 of 4 judged targets kept · 7 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| CFO transition from John Sauerland to Andrew Quigg | Andrew Quigg to assume the CFO role in July 2026 on John Sauerland's retirement | Dec 2025 | And so as CFO, I plan to have the same approach that we've had historically | Achieved |
| Enterprise calendar-year combined ratio at or below 96 | Grow as fast as we can at or below a 96 combined ratio at the enterprise level, as long as we can service customers | Mar 2024 | our objective is to grow as fast as possible at or below a 96 while delivering high-quality customer service | On Track |
Claimed
- Achieved milestone of becoming largest U.S. personal auto writer in trailing 12-month period by direct premiums written.
- Personal Lines PIF growth of 8% (including 8% in agency auto, 10% in direct auto), surpassing 40 million total PIFs.
- Property business turnaround substantially complete, with combined ratio of 75% in 2025 and 78% year-to-date 2026, and 41 states now 'healthy and well positioned for growth' (up from 18 in May 2025).
- Reduced high weather risk state total insured value mix by 23% and 1 in 100-year probable maximum loss by nearly 33% since 2022, while total insured value increased 30%.
- Generated nearly 0.5 million Robinsons (bundled auto+home customers) since 2023 through cross-selling efforts.
- Commercial Lines saw positive new app growth in Q2, especially June, and PIF growth year-over-year is up 30%.
Qualified
- Auto growth rates have slowed from peak levels in 2024 and 2025, with competition increasing and shopping activity leveling off.
- Property win rate on comparative raters reduced due to significant rate actions and increased market participation (average carriers returning rates up >30% since Q1 2024).
- Agency Robinson PIF growth was flat in 2025 due to intentional repositioning of property for profitability.
The full ledger
Open PROGRESSIVE CORP/OH/’s full ledger
A free account opens 5 company ledgers a month. All 11 tracked commitments, with each call’s wording and source.
Call summaries
Mar 2026 (Q1 FY26) — May 5, 2026
The Progressive Corporation Q1 FY26 — Extraordinary Profitability and Market Share Gains
Read the full callDec 2025 (Q4 FY25) — Mar 3, 2026
Progressive Q4 FY25 — Strong Growth and Profitability with Capital Efficiency
Read the full callEvery analysed call
Progressive earnings calls (PGR)
Financials
What the filings say
Net profit, year on year: +4% (quarter to jun 2026 against jun 2025).
| Line item | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 19,719 | 20,276 | 20,409 | 22,004 | 22,512 | 22,746 | 22,188 | 23,609 |
| Profit before tax | 2,946 | 2,968 | 3,236 | 3,982 | 3,323 | 3,682 | 3,566 | 4,209 |
| Tax rate | 20.8% | 20.6% | 20.7% | 20.3% | 21.3% | 19.9% | 21.0% | 21.3% |
| Net profit | 2,334 | 2,357 | 2,567 | 3,175 | 2,615 | 2,951 | 2,818 | 3,311 |
| EPS ($ per share) | 3.98 | — | 4.38 | 5.42 | 4.46 | — | 4.81 | 5.68 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Reserves | 8,387 | 10,680 | 13,355 | 15,340 | 15,721 | 18,801 | 24,283 | 27,327 |
| Total liabilities | 35,539 | 41,012 | 47,060 | 52,901 | 59,574 | 68,414 | 80,154 | 92,716 |
| Fixed assets | 1,132 | 1,214 | 1,106 | 1,137 | 1,034 | 881 | 790 | 783 |
| Investments | 1,796 | 1,799 | 5,219 | 943 | 2,862 | 1,790 | 615 | 10,005 |
| Total assets | 46,575 | 54,911 | 64,098 | 71,132 | 75,465 | 88,691 | 105,745 | 123,039 |
| Line item | Dec 2018 | Dec 2019 | Dec 2020 | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | 6,285 | 6,262 | 6,906 | 7,762 | 6,849 | 10,643 | 15,119 | 17,548 |
| Cash from investing | -7,035 | -4,338 | -6,118 | -3,120 | -7,956 | -10,842 | -13,749 | -14,527 |
| Cash from financing | 550 | -1,771 | -939 | -4,516 | 1,126 | 78 | -1,316 | -3,037 |
| Net cash flow | -200 | 152 | -151 | 126 | 19 | -121 | 54 | -16 |
| Capital expenditure | -266 | -363 | -223 | -243 | -292 | -252 | -285 | -348 |
| Free cash flow | 6,019 | 5,898 | 6,682 | 7,518 | 6,557 | 10,391 | 14,834 | 17,200 |
PGR revenue by segment
| Segment | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | YoY growth latest quarter |
|---|---|---|---|---|
| Personal Lines | 75% | 76% | 75% | — |
| Commercial Lines | 15% | 15% | 14% | — |
| Property | 4% | 4% | 4% | — |
| Other Indemnity | 0% | 0% | 0% | — |
Share of consolidated revenue by quarter. Q4 is the fiscal year less its first three quarters.
See how segments are shifting across companies → Segment Shift
Insider filings
104 filings between Nov 11, 2025 and Sep 24, 2026.
Open market
decisions to buy or sellPurchases
None
No insider bought shares.
Sales
$31.03M
26 sales by 12 insiders
85% filed under a 10b5-1 plan — scheduled in advance, not decided on the day
Compensation
not trading decisions- 25
- Award — granted as compensation
- 14
- Option exercise — converted options into shares
- 28
- Tax withheld — shares kept back by the company to cover tax
Also filed: 6 dispositions to the issuer, 5 gifts.
Who traded
open market only| Insider | Bought | Sold | Last filing |
|---|---|---|---|
| Griffith Susan Patricia | — | $16.14M | Sep 1, 2026 |
| Murphy John Jo | — | $2.91M | Jul 27, 2026 |
| Bailo Karen | — | $2.54M | Jul 27, 2026 |
| Broz Steven | — | $2.13M | Sep 24, 2026 |
| Bauer Jonathan S. | — | $1.57M | Jul 27, 2026 |
| Niederst Lori A | — | $1.54M | Aug 13, 2026 |
| KELLY JEFFREY D | — | $1.51M | Jun 24, 2026 |
| Sauerland John P | — | $1.14M | Nov 28, 2025 |
Latest filings (50)
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| Sep 24, 2026 | Broz Steven Chief Information Officer | Sale 10b5-1 plan | 1,225 | $250.3K |
| Sep 1, 2026 | Griffith Susan Patricia President and CEO | Sale 10b5-1 plan | 37,338 | $8.20M |
| Sep 1, 2026 | Griffith Susan Patricia President and CEO | Gift 10b5-1 plan | 1,598 | $0 |
| Aug 20, 2026 | Broz Steven Chief Information Officer | Sale 10b5-1 plan | 1,225 | $268.8K |
| Aug 13, 2026 | Niederst Lori A Chief Personal Lines Officer | Sale 10b5-1 plan | 7,339 | $1.54M |
| Jul 28, 2026 | Quigg Andrew J VP and Chief Financial Officer | Sale 10b5-1 plan | 3,499 | $769.8K |
| Jul 27, 2026 | Bailo Karen Commercial Lines President | Sale 10b5-1 plan | 8,452 | $1.80M |
| Jul 27, 2026 | Griffith Susan Patricia President and CEO | Sale 10b5-1 plan | 37,338 | $7.94M |
| Jul 27, 2026 | Bauer Jonathan S. Chief Investment Officer | Sale 10b5-1 plan | 2,242 | $476.9K |
| Jul 27, 2026 | Murphy John Jo Claims President | Sale 10b5-1 plan | 8,124 | $1.73M |
| Jul 24, 2026 | Bauer Jonathan S. Chief Investment Officer | Tax withheld | 1,933 | $409.6K |
| Jul 24, 2026 | Clawson William L. II Chief Human Resources Officer | Tax withheld | 4,136 | $876.4K |
| Jul 24, 2026 | DAY HEATHER E CRM President | Award | 2,088 | $0 |
| Jul 24, 2026 | DAY HEATHER E CRM President | Tax withheld | 613 | $129.9K |
| Jul 24, 2026 | Bauer Jonathan S. Chief Investment Officer | Award | 4,176 | $0 |
| Jul 24, 2026 | Clawson William L. II Chief Human Resources Officer | Award | 9,603 | $0 |
| Jul 24, 2026 | Callahan Patrick K Personal Lines President | Tax withheld | 12,578 | $2.67M |
| Jul 24, 2026 | Stringer David M Vice Pres, Secretary and CLO | Tax withheld | 235 | $49.8K |
| Jul 24, 2026 | Niederst Lori A Chief Personal Lines Officer | Tax withheld | 5,812 | $1.23M |
| Jul 24, 2026 | Niederst Lori A Chief Personal Lines Officer | Award | 13,152 | $0 |
| Jul 24, 2026 | Quigg Andrew J VP and Chief Financial Officer | Award | 12,525 | $0 |
| Jul 24, 2026 | Quigg Andrew J VP and Chief Financial Officer | Tax withheld | 5,526 | $1.17M |
| Jul 24, 2026 | Callahan Patrick K Personal Lines President | Award | 29,852 | $0 |
| Jul 24, 2026 | Stringer David M Vice Pres, Secretary and CLO | Award | 530 | $0 |
| Jul 24, 2026 | WITALEC DANIEL J Chief Strategy Officer | Award | 2,422 | $0 |
| Jul 24, 2026 | WITALEC DANIEL J Chief Strategy Officer | Tax withheld | 706 | $149.6K |
| Jul 24, 2026 | Murphy John Jo Claims President | Tax withheld | 6,404 | $1.36M |
| Jul 24, 2026 | Broz Steven Chief Information Officer | Tax withheld | 4,832 | $1.02M |
| Jul 24, 2026 | Murphy John Jo Claims President | Award | 14,529 | $0 |
| Jul 24, 2026 | Griffith Susan Patricia President and CEO | Tax withheld | 58,919 | $12.48M |
| Jul 24, 2026 | Bailo Karen Commercial Lines President | Award | 15,030 | $0 |
| Jul 24, 2026 | Griffith Susan Patricia President and CEO | Award | 133,595 | $0 |
| Jul 24, 2026 | Broz Steven Chief Information Officer | Award | 10,959 | $0 |
| Jul 24, 2026 | Bailo Karen Commercial Lines President | Tax withheld | 6,578 | $1.39M |
| Jul 23, 2026 | Broz Steven Chief Information Officer | Sale 10b5-1 plan | 1,156 | $237.2K |
| Jul 13, 2026 | Griffith Susan Patricia President and CEO | Gift 10b5-1 plan | 6,043 | $0 |
| Jul 6, 2026 | Quigg Andrew J VP and Chief Financial Officer | Gift 10b5-1 plan | 531 | $0 |
| Jul 1, 2026 | Snyder Barbara R Director | Disposition to issuer | 107 | $23.5K |
| Jul 1, 2026 | Snyder Barbara R Director | Option exercise | 825 | $0 |
| Jun 24, 2026 | KELLY JEFFREY D Director | Sale | 7,000 | $1.51M |
| Jun 22, 2026 | Broz Steven Chief Information Officer | Sale 10b5-1 plan | 1,157 | $236.9K |
| Jun 5, 2026 | Murphy John Jo Claims President | Sale 10b5-1 plan | 5,916 | $1.18M |
| Jun 5, 2026 | Broz Steven Chief Information Officer | Sale 10b5-1 plan | 1,157 | $231.4K |
| May 8, 2026 | Van Dyke Kahina Director | Award | 1,856 | $0 |
| May 8, 2026 | Snyder Barbara R Director | Award | 1,779 | $0 |
| May 8, 2026 | Johnson Devin C Director | Award | 1,908 | $0 |
| May 8, 2026 | FITT LAWTON W Director | Award | 3,093 | $0 |
| May 8, 2026 | FARAH ROGER N Director | Award | 2,011 | $0 |
| May 8, 2026 | DAVIS CHARLES A Director | Award | 1,959 | $0 |
| May 8, 2026 | Craig Pamela J. Director | Award | 1,207 | $0 |
Source: SEC Form 4 filings. Form 4 reports transactions, not the cap table — absence of filings says nothing about how much an insider owns, and a quiet window is not a signal.
Your own record
Start an Inve Case for PROGRESSIVE CORP/OH/
Free account. Everything above stays public.
Write why you follow PROGRESSIVE CORP/OH/ and the condition you want checked. Inve compares your numeric conditions with available results and management guidance; your own conditions remain yours to review.
Keep reading
Other companies in Financials
Nearest to Progressive by market cap among the sector's top 20 companies at Q2 2026.