AI Earnings Predictions for Progressive Corporation (The) (PGR)

EX-99

2 pgr202609ex99earningsrelea.htm

EX-99

Document

NEWS RELEASE

The Progressive CorporationCompany Contact:

300 North Commons Blvd.Julianna Paterra, CFA

Mayfield Village, Ohio 44143(719) 432-2509

http://www.progressive.com

investor_relations@progressive.com

PROGRESSIVE REPORTS SEPTEMBER RESULTS

MAYFIELD VILLAGE, OHIO -- October 14, 2026 -- The Progressive Corporation (NYSE:PGR) today reported the following results for the month and quarter ended September 30, 2026:

SeptemberQuarter

(millions, except per share amounts and ratios; unaudited)20262025Change20262025Change

Net premiums written$7,255 $7,128 2 %$22,301 $21,384 4 %

Net premiums earned$7,160 $6,827 5 %$21,869 $20,849 5 %

Net income$630 $305 107 %$2,542 $2,615 (3)%

Per share available to common shareholders$1.08 $0.52 109 %$4.37 $4.45 (2)%

Total pretax net realized gains (losses) on securities$(231)$138 (267)%$(170)$295 (158)%

Combined ratio90.0100.4(10.4)pts.88.789.5(0.8)pts.

Average diluted equivalent common shares581.7588.2(1)%582.2588.2(1)%

September 30,

(thousands; unaudited)20262025% Change

Policies in Force

Personal Lines

Agency – auto11,34710,6307

Direct – auto16,84815,6198

Special lines7,3906,9806

Property3,6523,6510

Total Personal Lines39,23736,8806

Commercial Lines1,2521,1985

Total40,48938,0786

Progressive offers personal and commercial insurance throughout the United States. Our Personal Lines business writes insurance for personal vehicles (auto and special lines products) and personal property insurance for homeowners and renters. Our Commercial Lines business writes auto-related liability and physical damage insurance, business-related general liability and commercial property insurance predominantly for small businesses, and workers’ compensation insurance primarily for the transportation industry.

- 1 -

THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

COMPREHENSIVE INCOME STATEMENT

For the month ended September 30, 2026

(millions)

(unaudited)

Current Month Comments on Monthly Results1

Net premiums written $7,255

Revenues:

Net premiums earned $7,160

Investment income 352

Net realized gains (losses) on securities:

Net realized gains (losses) on security sales (3)

Net holding period gains (losses) on securities (228)

Total net realized gains (losses) on securities (231)

Fees and other revenues 105

Service revenues 48

Total revenues 7,434

Expenses:

Losses and loss adjustment expenses 4,959

Policy acquisition costs 528

Other underwriting expenses 1,066

Investment expenses 3

Service expenses 49

Interest expense 29

Total expenses 6,634

Income before income taxes 800

Provision for income taxes 170

Net income 630

Other comprehensive income (loss):

Change in total net unrealized gains (losses) on fixed-maturity securities (1,309)

Total comprehensive income (loss) $(679)

1 For a description of our financial reporting and accounting policies as it applies to information contained throughout this release, see Note 1 to our 2025 audited consolidated financial statements included in our 2025 Shareholders’ Report, which can be found at www.progressive.com/annualreport.

- 2 -

THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

COMPREHENSIVE INCOME STATEMENTS

For the year-to-date periods ended September 30,

(millions)

(unaudited)

Year-to-Date

20262025

Net premiums written$67,019 $63,666

Revenues:

Net premiums earned$64,410 $60,568

Investment income2,931 2,609

Net realized gains (losses) on securities:

Net realized gains (losses) on security sales103 32

Net holding period gains (losses) on securities211 438

Total net realized gains (losses) on securities314 470

Fees and other revenues913 896

Service revenues421 382

Total revenues68,989 64,925

Expenses:

Losses and loss adjustment expenses43,303 39,854

Policy acquisition costs4,712 4,522

Other underwriting expenses9,253 8,423

Policyholder credit expense0 950

Investment expenses28 26

Service expenses437 400

Interest expense245 209

Total expenses57,978 54,384

Income before income taxes11,011 10,541

Provision for income taxes2,340 2,184

Net income8,671 8,357

Other comprehensive income (loss):

Changes in:

Total net unrealized gains (losses) on fixed-maturity securities (2,847)1,611

Net unrealized losses on forecasted transactions 0 1

Other comprehensive income (loss)(2,847)1,612

Total comprehensive income (loss)$5,824 $9,969

- 3 -

THE PROGRESSIVE CORPORATION AND SUBSIDIARIES

COMPUTATION OF NET INCOME AND COMPREHENSIVE INCOME PER SHARE

&

INVESTMENT RESULTS

For the month and year-to-date periods ended September 30,

(millions – except per share amounts)

(unaudited)

The following table sets forth the computation of per share results:

SeptemberYear-to-Date

202620262025

Net income $630 $8,671 $8,357

Per common share:

Basic $1.09 $14.87 $14.25

Diluted $1.08 $14.83 $14.21

Comprehensive income (loss) $(679)$5,824 $9,969

Per common share:

Diluted1 $(1.17)$9.96 $16.95

Average common shares outstanding - Basic

5

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.ce06d217.1784470808.b6592208

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.ce06d217.1784470810.b6593159

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.