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Hanover Insurance Group (THG) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Oct 29, 2026 · Hanover Insurance Group (THG) Q3 2026 earnings results →
Q3 2026 Revenue up 4% year over year to $1.7B · 10¢ of every $1 of revenue kept as net profit · operating margin 14.1%
Hanover Insurance Group made $1.7B in Q3 2026 (+4% Y/Y). Operating margin 14.1%, net earnings $173M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 29, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $1.7B in Q3 2026, up 4% year over year and up 1% from the previous quarter.
Operating profit was $0.24B, a 14.1% margin (down 0.8 points year over year). Operating profit fell $3.3M even though revenue rose $0.07B versus Q3 2025, so costs grew faster than sales. Total costs grew 5% against revenue growth of 4%. Net earnings were $0.17B, down 3% year over year. The effective tax rate was 21.8%.
Operating cash flow was $0.52B (down 6% year over year), 301% of net earnings. Non-cash charges added back $0.01B of share-based compensation. Working capital and other items added $0.33B. Capital expenditures of $1.8M left free cash flow of $0.52B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Oct 29, 2026 | $1.7B | +4% | 14.1% | $173M | $520M |
| Q2 2026 | 10-Q | Jul 29, 2026 | $1.7B | +4% | 14.6% | $192M | $212M |
| Q1 2026 | 10-Q | Apr 30, 2026 | $1.7B | +6% | 14.7% | $187M | $119M |
| Q4 2025 | 10-K | Feb 20, 2026 | $1.7B | +6% | 17.3% | $198M | $378M |
| Q3 2025 | 10-Q | Oct 30, 2025 | $1.7B | +6% | 14.9% | $179M | $554M |
| Q2 2025 | 10-Q | Jul 31, 2025 | $1.7B | +8% | 12.7% | $157M | $207M |
| Q1 2025 | 10-Q | May 1, 2025 | $1.6B | +3% | 11.6% | $128M | $38.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Hanover Insurance Group
The Hanover Insurance Group, Inc. is the holding company for several property and casualty insurance companies, which together constitute one of the largest insurance businesses in the United States. The company provides exceptional insurance solutions through a select group of independent agents and brokers. Together with its agent partners, the company offers standard and specialized insurance protection for small and mid-sized businesses, as well as for homes, automobiles, and other personal items. For more information, please visit hanover.com .
In its own words, from its 8-K, filed Jul 28, 2026.
Hanover Insurance Group against its Fire, Marine & Casualty Insurance peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +4% against the peers' median +3%. Operating margin: 14.1% against the peers' median 15.1%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| THG Hanover Insurance Group | Q3 2026 | $1.7B | +4% | 14.1% |
| BRK-B Berkshire Hathaway | Q2 2026 | $101.8B | +10% | 15.5% |
| PGR Progressive | Q3 2026 | $23.2B | +3% | 14.0% |
| ALL Allstate | Q3 2026 | $17.3B | +0.5% | 15.1% |
| CB Chubb | Q3 2026 | $16.2B | +0.3% | 21.0% |
| TRV Travelers Companies | Q3 2026 | $12.4B | -0.5% | 19.1% |
| AIG American International Group | Q3 2026 | $7.4B | +17% | 15.0% |
| HIG Hartford Insurance Group | Q3 2026 | $7.2B | +4% | 21.9% |
| L Loews | Q3 2026 | $4.8B | +2% | 8.5% |
Source: Hanover Insurance Group 10-Q on SEC EDGAR · CIK 944695 · Fire, Marine & Casualty Insurance
13F: who owns THG and who is buying
More on THG
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results