Progressive

Q2 FY2026 EarningsQ2 2026 net income reached $3.31B, up 4% YoY, while diluted EPS rose 5% to $5.67. Net premiums earned grew 6% YoY to $21.57B, supported by a 7% increase in total policies in force to 40.09M. However, the quarterly combined ratio deteriorated by 1.1pts to 87.3%, and June monthly results showed a sharper 31% YoY decline in net income due to a 3.4pt jump in the combined ratio to 90.0%. Investment performance remained resilient with a 4.2% book yield, despite volatility in fixed-income returns.