Filing Flows › Progressive (PGR) › Q3 2026
Progressive (PGR) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 2, 2026
Progressive (PGR) reported revenue of $23.2B for the third quarter 2026 (Q3 2026), +3% from a year earlier and -2% from the quarter before. Operating margin was 14.0%, net earnings $2.5B (11.0% of revenue).
Progressive, Q3 2026: revenue $23.2B (+3% year over year), operating margin 14.0%, net earnings $2.5B, operating cash flow $4.5B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $23.2B | -2% | +3% |
| Operating profit | $3.2B | -23% | -3% |
| Net earnings | $2.5B | -23% | -3% |
| Operating cash flow | $4.5B | +25% | -13% |
| Free cash flow | $4.4B | +27% | -14% |
What changed
Revenue was $23.2B in Q3 2026, up 3% year over year and down 2% from the previous quarter.
Operating profit was $3.2B, a 14.0% margin (down 0.8 points year over year). Operating profit fell $0.09B even though revenue rose $0.68B versus Q3 2025, so costs grew faster than sales. Total costs grew 4% against revenue growth of 3%. Net earnings were $2.5B, down 3% year over year. The effective tax rate was 21.4%.
Operating cash flow was $4.5B (down 13% year over year), 178% of net earnings. Non-cash charges added back $0.10B of depreciation. Working capital and other items added $1.9B. Capital expenditures of $0.12B left free cash flow of $4.4B.
Questions
What was Progressive's revenue in the third quarter 2026?
Progressive (PGR) reported revenue of $23.2B for the third quarter 2026 (Q3 2026), +3% from a year earlier and -2% from the quarter before.
Was Progressive profitable in the third quarter 2026?
Operating profit was $3.2B (14.0% of revenue) and net earnings $2.5B.
Source: Progressive 10-Q on SEC EDGAR.