Progressive Reports September Results: Net Income Up 107% to $630M, Combined Ratio Improves to 90.0
PGR is trading near its 52-week low of $189.2 (11% above the low).
Summary
Progressive's September net income more than doubled to $630 million with a 90.0 combined ratio, while Q3 net income of $2.54 billion was down 3% year-over-year. The company repurchased 969,262 shares in September.
Key Events · Earnings and Guidance · PGR
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September Net Income Doubles
Net income rose 107% year-over-year to $630 million, with EPS of $1.08 versus $0.52 a year ago.
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Combined Ratio Improves 10.4 Points
September combined ratio improved to 90.0 from 100.4, driven by lower catastrophe losses and favorable prior-year reserve development of $143 million.
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Q3 Net Income Down 3%
Quarterly net income was $2.54 billion, down from $2.62 billion a year ago, with EPS of $4.37 versus $4.45.
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Share Repurchases Continue
Progressive repurchased 969,262 common shares in September at an average cost of $207.92 per share.
Analysis · PGR · Finance
Progressive's September results show a sharp year-over-year improvement in monthly profitability, with net income more than doubling to $630 million and the combined ratio improving 10.4 points to 90.0. The quarter's net income of $2.54 billion was down 3% from a year ago, but the underlying underwriting performance remains strong with an 88.7 combined ratio. The company also repurchased 969,262 shares in September at an average cost of $207.92, continuing its capital return program. The balance sheet shows $34.5 billion in shareholders' equity and a book value of $59.51 per share.
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In the 30 days to Oct 29, 2026, 30.9% of the 1649 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.02%. 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, PGR was trading at $209.54 on NYSE in the Finance sector, with a market capitalization of approximately $129.5B. The 52-week trading range was $189.20 to $241.01. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.