NYSE$PGR
Progressive Corp · Q2 2025 earnings
Q2 2025 earnings · · Before market open · Investor relations
Briefing
Progressive reported Q2 2025 total revenues of $22.0B with net income of $3.18B and diluted EPS of $5.40.
Second-quarter total revenues rose 21% year over year to $22.0 billion as net premiums earned reached $20.3 billion. Net income was $3.18 billion with diluted EPS of $5.40 versus $2.48 a year ago; the combined ratio improved on favorable underwriting. Net realized gains on securities and higher investment income supplemented underwriting profit.
- Q2 total revenues $22.0B (+21% YoY); net premiums earned $20.3B.
- Net income $3.18B; diluted EPS $5.40 (+117% YoY).
- Underwriting margin benefited from premium growth and loss-ratio discipline.
- Investment income and securities gains added to total return.
Headline financials
Revenue & EPS history
Progressive · Revenue · Quarterly
$22B
Forward guidance
The filing discusses Progressive's outlook, capital allocation, and key risks for upcoming quarters, including guidance ranges or operating priorities where disclosed in MD&A.
Tailwinds
- Premium growth and underwriting discipline support combined-ratio targets.
- Progressive cites execution and demand supporting the near-term outlook.
- Liquidity and balance-sheet capacity support operations and shareholder returns.
Headwinds
- Macro, input costs, and FX may pressure margins quarter to quarter.
- Segment mix and one-time items can affect comparability versus prior periods.
- Catastrophe weather and loss-cost inflation remain industry risks.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2025
+0.0%
Avg return
Earnings day
-0.1%
Avg return
5 days after
+2.8%
Avg return
30 days after
52%
38 / 73 earnings
Positive
+9.6%
Q3 2023
Best reaction
-11.6%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.2% | +3.7% | +1.6% | |
| Q4 2025 | +2.1% | -2.4% | +2.7% | |
| Q3 2025 | -5.9% | -8.7% | -6.3% | |
| Q2 2025 | +0.7% | +0.6% | -0.4% | |
| Q1 2025 | -0.4% | -6.8% | +3.6% | |
| Q4 2024 | +0.6% | +1.6% | +15.1% | |
| Q3 2024 | +1.4% | -0.3% | +2.2% | |
| Q2 2024 | +2.0% | +1.0% | +9.1% | |
| Q1 2024 | +2.1% | +3.4% | +6.7% | |
| Q4 2023 | +4.5% | +4.4% | +12.3% | |
| Q3 2023 | +9.6% | +11.1% | +11.9% | |
| Q2 2023 | -11.6% | -9.3% | -3.2% | |
| Q1 2023 | -8.3% | -6.4% | -9.9% | |
| Q4 2022 | +4.4% | +4.8% | +9.8% | |
| Q3 2022 | -4.5% | -0.9% | +4.0% | |
| Q2 2022 | -1.8% | -0.9% | +8.4% | |
| Q1 2022 | -3.7% | -2.4% | -5.3% | |
| Q4 2021 | -1.5% | -0.6% | -1.9% | |
| Q3 2021 | +0.5% | +2.0% | +5.9% | |
| Q2 2021 | -1.3% | -3.1% | -1.4% | |
| Q1 2021 | +1.6% | +2.7% | +10.2% | |
| Q4 2020 | -3.5% | -6.0% | -6.3% | |
| Q3 2020 | -2.8% | -4.5% | -4.6% | |
| Q2 2020 | +3.1% | +4.3% | +5.3% | |
| Q1 2020 | -1.7% | +1.8% | -5.3% | |
| Q4 2019 | +7.0% | +5.4% | -4.3% | |
| Q3 2019 | -4.7% | -6.6% | -2.8% | |
| Q2 2019 | -3.5% | -3.7% | -7.9% | |
| Q1 2019 | +5.4% | +3.8% | +7.7% | |
| Q4 2018 | +3.1% | +3.0% | +14.2% | |
| Q3 2018 | +6.6% | +6.5% | +0.1% | |
| Q2 2018 | +3.4% | +2.4% | +11.3% | |
| Q1 2018 | +0.4% | +0.2% | -0.9% | |
| Q4 2017 | -2.3% | -6.9% | +1.2% | |
| Q3 2017 | -1.8% | -0.1% | +5.3% | |
| Q2 2017 | +0.5% | +2.0% | +6.7% | |
| Q1 2017 | -1.7% | -0.5% | +5.1% | |
| Q4 2016 | +3.9% | +2.4% | +6.7% | |
| Q3 2016 | +3.3% | +1.3% | +4.9% | |
| Q2 2016 | -0.5% | -1.2% | +2.1% | |
| Q1 2016 | -3.8% | — | — | |
| Q4 2015 | +4.2% | — | — | |
| Q3 2015 | +2.7% | — | — | |
| Q2 2015 | +1.9% | — | — | |
| Q1 2015 | +1.6% | — | — | |
| Q4 2014 | -0.1% | — | — | |
| Q3 2014 | -1.8% | — | — | |
| Q2 2014 | -3.0% | — | — | |
| Q1 2014 | -1.4% | — | — | |
| Q4 2013 | -2.9% | — | — | |
| Q3 2013 | +1.3% | — | — | |
| Q2 2013 | -0.2% | — | — | |
| Q1 2013 | -0.2% | — | — | |
| Q4 2012 | +1.5% | — | — | |
| Q3 2012 | +1.7% | — | — | |
| Q2 2012 | -2.8% | — | — | |
| Q1 2012 | +0.4% | — | — | |
| Q4 2011 | -0.1% | — | — | |
| Q3 2011 | +3.8% | — | — | |
| Q2 2011 | +0.6% | — | — | |
| Q1 2011 | +0.3% | — | — | |
| Q4 2010 | -3.4% | — | — | |
| Q3 2010 | -2.2% | — | — | |
| Q2 2010 | -0.2% | — | — | |
| Q1 2009 | +4.0% | — | — | |
| Q1 2010 | +0.6% | — | — | |
| Q4 2007 | +0.5% | — | — | |
| Q4 2009 | +0.5% | — | — | |
| Q3 2008 | +4.0% | — | — | |
| Q3 2009 | +4.0% | — | — | |
| Q2 2009 | -3.5% | — | — | |
| Q2 2008 | -3.5% | — | — | |
| Q4 2008 | -3.5% | — | — |
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