Filing Flows › Progressive (PGR) › Q2 2026 › vs Q1 2026
Progressive (PGR) Q2 2026 vs Q1 2026 (quarter over quarter)
Progressive's revenue rose $1.4B (+6%) from $22.2B in Q1 2026 to $23.6B in Q2 2026. Operating margin 17.8% against 16.1% (+1.8 pts).
Progressive, Q2 2026: revenue $23.6B (+7% year over year), operating margin 17.8%, net earnings $3.3B, operating cash flow $3.6B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 17.8% | 16.1% | +1.8 pts |
| Net margin | 14.0% | 12.7% | +1.3 pts |
| Free cash flow margin | 14.7% | 19.4% | -4.7 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $23.6B | $22.2B | $1.4B | +6% |
| Operating profit | $4.2B | $3.6B | $643M | +18% |
| Costs & expenses | $19.4B | $18.6B | $778M | +4% |
| Pre-tax earnings | $4.2B | $3.6B | $643M | +18% |
| Net earnings | $3.3B | $2.8B | $493M | +17% |
| Income tax | $898M | $748M | $150M | +20% |
| Depreciation | $82.0M | $75.0M | $7.0M | +9% |
| Working capital & other | $214M | $1.5B | −$1.3B | -85% |
| Operating cash flow | $3.6B | $4.4B | −$760M | -17% |
| Free cash flow (OCF − capex) | $3.5B | $4.3B | −$835M | -19% |
| Capital expenditures | $138M | $63.0M | $75.0M | +119% |
Questions
How much did Progressive's revenue grow quarter over quarter in Q2 2026?
Progressive's revenue rose $1.4B (+6%) from $22.2B in Q1 2026 to $23.6B in Q2 2026. Operating margin 17.8% against 16.1% (+1.8 pts).