Allstate 10-Q: Q3 EPS $8.03 as Catastrophe Losses Triple; $2.91B Buyback Year-to-Date
ALL sits 41% above its 52-week low of $191.13.
Summary
Allstate's Q3 10-Q confirms $8.03 diluted EPS as catastrophe losses nearly tripled to $1.65 billion, offset by $969 million of reserve releases; nine-month net income rose to $7.72 billion and buybacks totaled $2.91 billion.
Key Events · Earnings and Guidance · ALL
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Q3 EPS Falls on Catastrophes
Diluted EPS was $8.03 versus $13.95 a year ago; net income applicable to common shareholders fell to $2,050 million from $3,717 million as catastrophe losses rose to $1,650 million from $558 million.
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Combined Ratio Rises to 86.6
Catastrophe losses added 10.9 points to the combined ratio, which rose to 86.6 from 80.1; the underlying combined ratio held at 80.5 versus 78.7.
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Reserve Releases Cushion Quarter
Prior-year reserve reestimates reduced reserves by $969 million in Q3 and $2,614 million in the first nine months, including $802 million of Q3 auto injury releases.
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Buyback and Book Value
13 million shares repurchased for $2.91 billion in the first nine months, with $1.35 billion remaining on the $4.00 billion authorization; book value per diluted share rose 25.3% to $120.23.
Analysis · ALL · Finance
The 10-Q confirms the same-day 8-K headline — Q3 diluted EPS of $8.03 versus $13.95 a year ago — but fills in the mechanics that matter for the thesis. Catastrophe losses of $1,650 million versus $558 million added 10.9 points to the combined ratio, pushing it to 86.6 from 80.1, yet the underlying combined ratio held at 80.5 and $969 million of prior-year reserve releases cushioned the quarter. Nine-month net income still rose to $7,719 million from $6,362 million, book value per diluted share is up 25.3% year over year to $120.23, and the company bought back 13 million shares for $2.91 billion with $1.35 billion left on the authorization. The filing also discloses the new CFO's pay package and two small Arity acquisitions (INRIX assets, Replica). The story is a weather-hit quarter absorbed by reserve releases and buybacks, not a change in the earnings trajectory.
How filings like this one have moved
In the 30 days to Nov 4, 2026, 32.4% of the 2199 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was 0.00%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, ALL was trading at $269.13 on NYSE in the Finance sector, with a market capitalization of approximately $68B. The 52-week trading range was $191.13 to $277.22. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.