Erie Indemnity Company (EI2) Q3 2026 Earnings Report
DE:EI2 Q3 2026 EPS Results
- Actual EPS
- EUR 3.11
- Consensus EPS
- EUR 3.04
- Beat/Miss
- Beat by +EUR 0.06
- One Year Ago EPS
- EUR 3.12
DE:EI2 Q3 2026 Revenue Results
- Actual Revenue
- EUR 954.16M
- Expected Revenue
- EUR 1.09B
- Beat/Miss
- Missed by -EUR 137.47M
- YoY Revenue Growth
- +0.17%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 10/29/2026
- Time
- After Close
- Conference Call
- Thursday, October 29, 2026
Erie Indemnity Company's next earnings date is estimated for March 1, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was broadly positive. Management highlighted meaningful improvement in underwriting results, higher earnings, stronger surplus, improved investment income, customer satisfaction leadership, and progress in product, quoting, safety, and AI initiatives. These positives outweighed the stated challenges of moderated premium growth, lower policies in force and retention, a combined ratio that remained above 100%, higher commission and personnel costs, and continued competitive and weather-related pressures.
Looking ahead to the second half of 2026, management said its focus remains on building on progress, continuing to restore profitability, supporting disciplined growth, and investing in capabilities for agents and employees; Erie Secure Auto is now active in 10 states, the online quoting platform rollout was complete as of the end of June with conversions nearly double compared to the historical online quoting platform, and eligible drivers up to age 20 completing teenSMART may qualify for a discount of up to 20%. The company said it remains focused on pricing discipline, implementing targeted rate reductions where indicated, but it isn't broadly lowering rates to drive growth, while pursuing targeted opportunities that support sustainable underwriting performance.
- Top Customer Satisfaction RankingErie ranked highest in customer satisfaction among large auto insurers in the J.D. Power 2026 U.S. Insurance Shopping Study, marking its third consecutive year with the top ranking.
- Improved Fortune 500 RankingErie ranked number 308 on the 2026 Fortune 500 list, moving up 15 spots from number 323 last year. This marks 23 years since Erie first appeared on the list.
- Improved Underwriting PerformanceThe Exchange's second-quarter combined ratio improved 13 points year over year to 103.9% from 116.9%. For the first six months, the combined ratio improved to 101.6% from 112.6%.
- Lower Catastrophe Loss ImpactSecond-quarter catastrophe losses impacted the combined ratio by 15 points, compared with a 22-point impact in the second quarter of 2025, and were described as much more in line with historical experience. Year to date, catastrophe losses were seven points better than the comparable prior-year period.
- Improved Non-Catastrophe LossesNon-catastrophe losses improved almost three points from the prior year.
- Higher Policyholder SurplusPolicyholder surplus increased to approximately $10.7 billion at the end of June from approximately $10.1 billion at year-end 2025, supported by improved underwriting results and strong investment performance.
- Higher Net Income and Earnings Per ShareSecond-quarter net income increased to $180 million, or $3.45 per diluted share, from $175 million, or $3.34 per diluted share. First-half net income increased to $331 million, or $6.32 per diluted share, from $313 million, or $5.99 per diluted share.
- Operating Income GrowthSecond-quarter operating income increased approximately 2.5% to $204 million from $199 million. First-half operating income increased 5.8% to $371 million from $351 million.
- Growth in Management Fee RevenueManagement fee revenue for policy issuance and renewal services grew approximately $39 million, or 4.7%, in the quarter. Year-to-date management fee revenue increased approximately $70 million, or 4.5%.
- Lower Non-Commission ExpensesNon-commission expenses decreased approximately $9 million, or 4.8%, in the second quarter and approximately $20 million, or 5%, in the first six months. Lower expenses in sales and advertising, acquisition and underwriting support, professional fees, and administrative costs drove the decreases.
- Higher Investment IncomeSecond-quarter investment income increased to $23 million from $20 million. First-half investment income increased to $45 million from $39 million.
- Capital Returns to ShareholdersFor the first six months of 2026, Erie paid shareholders approximately $136 million in dividends while maintaining a strong balance sheet and taking a measured approach to capital management.
- Erie Secure Auto RolloutErie continued rolling out Erie Secure Auto, which became effective in Pennsylvania in May and was active in 10 states by the time of the call. Management said the product provides more flexibility, supports greater pricing sophistication, and helps meet changing customer and agent needs.
- Online Quoting Platform Completed Across the FootprintThe new online quoting platform, introduced to Ohio agents in February, completed its rollout across Erie's footprint by the end of June. Management reported a significant improvement in lead quality and conversions nearly double those of the historical online quoting platform.
- TeenSMART Driver Safety ProgramThrough the teenSMART program, eligible drivers up to age 20 who complete the program may qualify for a discount of up to 20%. Young drivers enrolled in the program are showing improvement in claim frequency and severity.
- Investment in Artificial IntelligenceErie is introducing AI assistants for claims and underwriting. The Claims Subrogation AI Assistant helps evaluate opportunities, prepare referrals, summarize claim information, and support negotiations, while the Commercial Underwriting Assistant identifies missing information and highlights key risk characteristics.
- Continued Investment in Customer and Agent CapabilitiesManagement said Erie is investing in Erie Secure Auto, online quoting, teenSMART, and practical AI applications to improve customer and agent experiences, help employees work more efficiently and consistently, and support disciplined, sustainable growth.
DE:EI2 Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Mar 01, 2027 | 2026 (Q4) | 2.63- | 1.08 | ― | ― |
| Oct 29, 2026 | 2026 (Q3) | 3.043.11 | 3.12 | -0.57% (-0.02) | |
| Jul 30, 2026 | 2026 (Q2) | 2.993.08 | 2.98 | 3.29% (+0.10) | |
| Apr 23, 2026 | 2026 (Q1) | 2.732.57 | 2.36 | 8.68% (+0.21) | |
| Feb 23, 2026 | 2025 (Q4) | 1.421.08 | 2.6 | -58.42% (-1.52) | |
| Oct 30, 2025 | 2025 (Q3) | 3.013.12 | 2.73 | 14.38% (+0.39) | |
| Aug 07, 2025 | 2025 (Q2) | 3.102.98 | 2.79 | 6.71% (+0.19) | |
| Apr 24, 2025 | 2025 (Q1) | 2.762.36 | 2.12 | 11.34% (+0.24) | |
| Feb 27, 2025 | 2024 (Q4) | 2.462.60 | 1.89 | 37.26% (+0.70) | |
| Oct 31, 2024 | 2024 (Q3) | 2.692.73 | 2.24 | 21.91% (+0.49) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.