Allstate Q3 EPS $8.03 as Catastrophe Losses Triple; Adjusted EPS Falls to $9.76
ALL sits 41% above its 52-week low of $191.13.
Summary
Allstate earned $8.03 per diluted share in Q3 2026, down 42% year over year, as catastrophe losses nearly tripled to $1.65 billion; adjusted EPS of $9.76 fell 12.6%. Underlying underwriting margins held and policies in force grew 3.9%.
Key Events · Earnings and Guidance · ALL
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Q3 EPS $8.03, Adjusted $9.76
Net income applicable to common shareholders was $2.05 billion, or $8.03 per diluted share, versus $13.95 a year ago. Adjusted net income was $2.49 billion, or $9.76 per diluted share, down 12.6% from $11.17.
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Catastrophe Losses Nearly Triple
Property-Liability catastrophe losses were $1,650 million versus $558 million, adding 10.9 points to the combined ratio, which rose to 86.6 from 80.1. Underwriting income fell 30.1% to $2.02 billion.
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Underlying Margin Holds at 80.5
The underlying combined ratio was 80.5 versus 78.7, with 5.1 points of favorable prior-year reserve releases offsetting higher underlying auto losses. Homeowners underlying combined ratio was 60.1 versus 59.8.
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Investment Losses and Unrealized Hit
Net losses on investments and derivatives were $545 million versus a $252 million gain, and unrealized net capital losses reached $2.6 billion pre-tax at September 30 as interest rates rose. Net investment income still rose $228 million to $1.18 billion.
Analysis · ALL · Finance
The headline EPS of $8.03 looks strong but is down 42% from $13.95 a year ago, and the cleaner adjusted figure of $9.76 missed last year's $11.17 by 12.6%. Catastrophe losses are the culprit: $1,650 million in the quarter versus $558 million, which pushed the Property-Liability combined ratio to 86.6 from 80.1 and cut underwriting income 30% to $2.0 billion. Underlying profitability held up, with the underlying combined ratio at 80.5 versus 78.7, so the swing is weather, not pricing or retention. Investment results cut the other way: $545 million of net investment losses versus a $252 million gain, and unrealized fixed-income losses of $2.6 billion after rates rose. Growth is intact at 217.6 million policies in force, up 3.9%, and $1.3 billion remains on the $4.0 billion buyback.
How filings like this one have moved
In the 30 days to Nov 6, 2026, 35.2% of the 2649 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.