The Progressive Corp. (NYSE:PGR) reported second-quarter 2026 results on Wednesday, with adjusted earnings beating Wall Street estimates while revenue narrowly missed expectations. Shares fell about 8% after investors weighed a sharp decline in June profit and signs of margin pressure.
Progressive Reports Q2 Earnings Beat on EPS, Revenue Misses Estimates
Adjusted earnings per share were $4.86, beating the analyst consensus estimate of $4.77. Revenue, measured as net premiums earned, increased 6% year over year to $21.57 billion but narrowly missed the consensus estimate of $21.60 billion.
Profit Growth Supported by Underwriting Performance
Net income rose 4% from a year earlier to $3.31 billion, while earnings available to common shareholders increased 5% to $5.67 per share. Net premiums written climbed 5% to $21.08 billion during the quarter.
