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Sentiment · FY2026 Q2
| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Op margin | Net margin |
|---|---|---|---|---|---|---|
| FY2024 Q4 | $20.27B | +20.0% | $4.01 | +19.0% | 14.6% | 11.6% |
| FY2025 Q1 | $20.40B | +18.4% | $4.37 | +10.9% | 15.9% | 12.6% |
| FY2025 Q2 | $22.00B | +21.3% | $5.40 | +117.7% | 18.1% | 14.4% |
| FY2025 Q3 | $22.51B | +14.2% | $4.45 | +12.1% | 14.8% | 11.6% |
| FY2025 Q4 | $22.74B | +12.2% | $5.02 | +25.2% | 16.2% | 13.0% |
| FY2026 Q1 | $22.18B | +8.7% | $4.80 | +9.8% | 16.1% | 12.7% |
| FY2026 Q2 | $23.62B | +7.4% | $5.67 | +5.0% | 17.8% | 14.0% |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dave Motemaden | Evercore ISI | 11 (36%) |
| Mike Zaremski | BMO Capital Markets | 11 (27%) |
| Elyse Greenspan | Wells Fargo | 9 (11%) |
| Bob Huang | Morgan Stanley | 8 (13%) |
| Josh Shanker | Bank of America | 8 (25%) |
| Greg Peters | Raymond James | 6 (0%) |
| Tracy Benguigui | Wolfe Research | 6 (0%) |
| Alex Scott | Barclays | 5 (0%) |
| Rob Cox | Goldman Sachs | 5 (0%) |
| Jimmy Bhullar | JPMorgan | 5 (40%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Evercore ISI | 2 | 13 (31%) |
| BMO Capital Markets | 1 | 11 (27%) |
| Wells Fargo | 1 | 9 (11%) |
| Bank of America | 1 |
| 8 (25%) |
| Morgan Stanley | 1 | 8 (13%) |
| JPMorgan | 2 | 7 (29%) |
| Wolfe Research | 1 | 6 (0%) |
| Raymond James | 1 | 6 (0%) |
Progressive delivered 8.7% revenue growth with extraordinary profitability, maintaining personal auto combined ratios below 90 in nine of the last ten quarters. The company captured 1.9 points of personal auto market share in 2025, reaching 18.6%, and set a Q1 record for media spending — up 20% year-over-year — to sustain its growth trajectory. Management identified the Robinson homeowner segment as a $40-50 billion top-line opportunity and announced a deep dive on Property growth for Q2, while monitoring potential macro headwinds from elevated fuel prices and tariff-driven parts cost inflation.
Pricing | Demand | Competitive Dynamics | Margin | Capital Allocation | Innovation & R&D | Revenue Growth | Product Launch | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 3 | 4 | 1 | 1 | 2 | 1 | 1 | 1 |
| 2025Q1 | 5 | 2 | 3 | 2 | 3 | 2 | 1 | |
| 2025Q2 | 7 | 8 | 3 | 5 | 2 | 4 | 1 | 2 |
| 2025Q3 | 6 | 5 | 5 | 5 | 4 | 4 | 4 | 3 |
| 2025Q4 | 3 | 2 | 1 | 3 | 1 | 1 | ||
| 2026Q1 | 2 | 3 | 6 | 3 | 2 | 2 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Pricing | 3 | 5 | 7 | 6 | 3 | 2 |
| Demand | 4 | 2 | 8 | 5 | 2 | 3 |
| Competitive Dynamics | 1 | 3 | 3 | 5 | 1 | 6 |
| Margin | 1 | 2 | 5 | 5 | 3 | 3 |
| Capital Allocation | 2 | 3 | 2 | 4 | 2 | |
| Innovation & R&D | 1 | 4 | 4 | 1 | 2 | |
| Revenue Growth | 1 | 2 | 1 | 4 | 1 | 1 |
| Product Launch | 1 | 1 | 2 | 3 |
What PGR and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“our market share is maybe 0.1% of what a Progressive or GEICO is right now”
Lemonade frames Progressive as a dominant auto-insurance incumbent against which its own share is tiny, underscoring Progressive's scale in the car market.
“you end up in a system period where we spend more, progressive spends more. So leads go up in costs, so we spend more. So they spend more.”
Allstate describes competitive advertising-spend dynamics with Progressive, noting it stays disciplined to avoid an escalating ad-spend cycle with its main auto competitor.
“the only, I'd say, material commercialization right now is from Waymo, and they have a ride-sharing service, right? That competes directly with our TNC customers.”
Progressive frames Waymo's autonomous ride-sharing as the only material commercialization competing directly with its TNC (transportation network company) insurance customers, an autonomous-vehicle read-through for Alphabet's Waymo unit.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PGR Progressive Corporation | 7 | +8.7% | |
| ALL Allstate | 7 | +4.2% | |
| CB Chubb Limited | 7 | +9.5% | |
| CINF Cincinnati Financial | 7 | +11.6% | |
| ERIE Erie Indemnity | 6 | +2.3% | |
| FACO First Acceptance Corporation | 5 | -5.4% | |
| KMPR Kemper Corporation | 2 | -6.8% | |
| L Loews Corporation | 5 | +2.6% | |
| LMND Lemonade, Inc. | 9 | +55.0% | |
| MCY Mercury General Corporation | 8 | +10.5% | |
| ROOT Root, Inc. | 8 | +12.6% | |
| TRV The Travelers Companies, Inc. | 5 | +1.0% | |
| WRB W. R. Berkley Corporation | 6 | +4.0% |