Progressive Corporation (NYSEPGR) Reports Q2 2025 results – Quarterly Review

# Progressive Corporation (NYSE:PGR) Reports Q2 2025 results – Quarterly Review

**Release Date: July 16, 2025**

The Progressive Corporation, a leading provider of personal and commercial insurance, has reported its results for the quarter ending June 30, 2025. The results show notable growth in both revenue and net income compared to the same quarter a year ago.

## Summary of Key Financial Metrics and Highlights

– **Net Premiums Written:**
– June 2025: $6,605 million
– June 2024: $5,749 million
– **Change:** +15% year-over-year
– Quarter-to-date:
– June 2025: $20,887 million
– June 2024: $17,567 million
– **Change:** +12% year-over-year

– **Net Premiums Earned:**
– June 2025: $6,954 million
– June 2024: $5,777 million
– **Change:** +20% year-over-year
– Quarter-to-date:
– June 2025: $20,887 million
– June 2024: $17,567 million
– **Change:** +18% year-over-year

– **Net Income:**
– June 2025: $1,124 million
– June 2024: $803 million
– **Change:** +40% year-over-year
– Quarter-to-date:
– June 2025: $3,136 million
– June 2024: $1,430 million
– **Change:** +118% year-over-year

– **Earnings Per Share (EPS):**
– Basic EPS:
– June 2025: $1.92
– June 2024: $1.37
– **Change:** +40% year-over-year
– Diluted EPS:
– June 2025: $1.91
– June 2024: $1.37
– **Change:** +40% year-over-year
– Quarter-to-date:
– June 2025: $5.40
– June 2024: $2.48
– **Change:** +118% year-over-year

– **Combined Ratio:**
– June 2025: 86.6%
– June 2024: 86.2%
– **Change:** +0.4 percentage points
– Quarter-to-date:
– June 2025: 86.2%
– June 2024: 91.9%
– **Change:** -5.7 percentage points

– **Total Policies in Force:**
– June 2025: 37,315,000
– June 2024: 32,310,000
– **Change:** +15% year-over-year

### Policy Details
– **Personal Lines:**
– Agency – auto:
– June 2025: 10,423,000 up from 8,965,000 (+16%)
– Direct – auto:
– June 2025: 15,245,000 up from 12,576,000 (+21%)
– Special lines:
– June 2025: 6,850,000 up from 6,312,000 (+9%)
– Property:
– June 2025: 3,608,000 up from 3,339,000 (+8%)
– Total Personal Lines:
– June 2025: 36,126,000 up from 31,192,000 (+16%)

– **Commercial Lines:**
– Commercial Lines policies have increased from 1,118,000 in June 2024 to 1,189,000 in June 2025 (+6%).

### Investment Performance
– **Investment Income:**
– June 2025: $295 million
– Year-to-date: $1,685 million
– **Total Portfolio Return:**
– Fixed-income securities: 1.0% for June 2025
– Common stocks: 4.9% for June 2025
– Total portfolio: 1.2% for June 2025

### Share Repurchase
– Common shares repurchased in June 2025:
– **Number of shares:** 14,367
– **Average cost per share:** $272.33

### Dividends
– There is **no indication of a declared quarterly dividend** in the provided report.

### Comprehensive Income
– **Total Comprehensive Income:**
– June 2025: $1,578 million
– June 2024: $3,690 million
– **Change:** This marks a decrease compared to the previous year, reflecting fluctuations in the investment portfolio.

### Financial Position
– **Total Assets:** $115,480 million
– **Shareholders’ Equity:** $32,604 million
– **Debt-to-Total Capital Ratio:** 17.5%

### Investor Relations
– The company will host an Investor Relations conference call scheduled for August 5, 2025, at 9:30 a.m. Eastern Time.
– The next financial results for July will be released on August 20, 2025.

Overall, Progressive’s Q2 results exhibit significant growth across multiple metrics, reflecting a robust performance in the insurance market. Continuous improvement in policies enforced indicates the company’s solid market position.

### CONDENSED CONSOLIDATED STATEMENTS OF INCOME (thousands; unaudited)

### CONDENSED CONSOLIDATED BALANCE SHEETS (millions; unaudited)