Erie Indemnity Reports Third Quarter 2026 Results
Net Income per Diluted Share was $3.48 for the Quarter and $9.80 for the Nine Months of 2026
ERIE, Pa., Oct. 29, 2026 /PRNewswire/ -- Erie Indemnity Company (NASDAQ: ERIE) today announced financial results for the quarter and nine months ending September 30, 2026. Net income was $182.0 million, or $3.48 per diluted share, in the third quarter of 2026, compared to $182.9 million, or $3.50 per diluted share, in the third quarter of 2025. Net income was $512.8 million, or $9.80 per diluted share, in the first nine months of 2026, compared to $496.0 million, or $9.48 per diluted share, in the first nine months of 2025.
3Q and Nine Months 2026
(in thousands)
3Q'26
3Q'25
2026
2025
Operating income
$ 207,382
$ 208,921
$ 578,292
$ 559,470
Investment income
19,877
21,554
64,549
60,690
Other income
5,496
2,286
8,317
8,094
Income before income taxes
232,755
232,761
651,158
628,254
Income tax expense
50,766
49,908
138,401
132,299
Net income
$ 181,989
$ 182,853
$ 512,757
$ 495,955
3Q 2026 Highlights
Operating income before taxes decreased $1.5 million, or 0.7 percent, in the third quarter of 2026 compared to the third quarter of 2025.
Income from investments before taxes totaled $19.9 million in the third quarter of 2026 compared to $21.6 million in the third quarter of 2025. Net investment income was $25.4 million in the third quarter of 2026 compared to $21.0 million in the third quarter of 2025. Net realized and unrealized investment losses were $5.4 million in the third quarter of 2026 compared to gains of $1.3 million in the third quarter of 2025.
Nine Months 2026 Highlights
Operating income before taxes increased $18.8 million, or 3.4 percent, in the first nine months of 2026 compared to the first nine months of 2025.
Income from investments before taxes totaled $64.5 million in the first nine months of 2026 compared to $60.7 million in the first nine months of 2025. Net investment income was $71.5 million in the first nine months of 2026 compared to $61.0 million in the first nine months of 2025. Net realized and unrealized losses were $5.7 million in the first nine months of 2026 compared to gains of $2.3 million in the first nine months of 2025. Net impairment losses recognized in earnings were $1.3 million in the first nine months of 2026 compared to $2.6 million in the first nine months of 2025.
Webcast Information
Indemnity has scheduled a pre-recorded audio broadcast on the Web for 10:00 AM ET on October 30, 2026. Investors may access the pre-recorded audio broadcast by logging on to www.erieinsurance.com.
Erie Insurance Group
Erie Insurance Group, based in Erie, Pennsylvania, is the 10 th largest homeowners insurer, 11 th largest automobile insurer, and 9 th largest commercial lines insurer in the United States based on direct premiums written, according to AM Best Company. Founded in 1925, Erie Insurance is a Fortune 500 company and the 16 th largest property/casualty insurer in the United States based on net premiums written. Rated A (Excellent) by AM Best, ERIE has nearly seven million policies in force and operates in 12 states and the District of Columbia.
News releases and more information are available on ERIE's website at www.erieinsurance.com.
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995:
Statements contained herein that are not historical fact are forward-looking statements and, as such, are subject to risks and uncertainties that could cause actual events and results to differ, perhaps materially, from those discussed herein. Forward-looking statements relate to future trends, events, or results and include, without limitation, statements and assumptions on which such statements are based that are related to our plans, strategies, objectives, expectations, intentions, and adequacy of resources. Examples of forward-looking statements are discussions relating to premium and investment income, expenses, operating results, and compliance with contractual and regulatory requirements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements. Among the risks and uncertainties, in addition to those set forth in our filings with the Securities and Exchange Commission, that could cause actual results and future events to differ from those set forth or contemplated in the forward-looking statements include the following:
A forward-looking statement speaks only as of the date on which it is made and reflects our analysis only as of that date. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changes in assumptions, or otherwise.
Erie Indemnity Company
Consolidated Statements of Operations
(dollars in thousands, except per share data)
Three months ended
September 30,
Nine months ended
September 30,
2026
2025
2026
2025
(Unaudited)
(Unaudited)
Operating revenue
Management fee revenue - policy issuance and renewal services
$ 846,980
$ 825,275
$ 2,496,258
$ 2,404,177
Management fee revenue - administrative services
19,720
18,831
58,814
54,772
Administrative services reimbursement revenue
197,562
215,694
599,212
638,611
Service agreement revenue
5,655
6,939
17,340
18,675
Total operating revenue
1,069,917
1,066,739
3,171,624
3,116,235
Operating expenses
Cost of operations - policy issuance and renewal services
664,973
642,124
1,994,120
1,918,154
Cost of operations - administrative services
197,562
215,694
599,212
638,611
Total operating expenses
862,535
857,818
2,593,332
2,556,765
Operating income
207,382
208,921
578,292
559,470
Investment income
Net investment income
25,399
21,033
71,546
61,011
Net realized and unrealized investment (losses) gains
(5,450)
1,331
(5,658)
2,312
Net impairment losses recognized in earnings
(72)
(810)
(1,339)
(2,633)
Total investment income
19,877
21,554
64,549
60,690
Other income
5,496
2,286
8,317
8,094
Income before income taxes
232,755
232,761
651,158
628,254
Income tax expense
50,766
49,908
138,401
132,299
Net income
$ 181,989
$ 182,853
$ 512,757
$ 495,955
Net income per share
Class A common stock – basic
$ 3.91
$ 3.93
$ 11.01
$ 10.65
Class A common stock – diluted
$ 3.48
$ 3.50
$ 9.80
$ 9.48
Class B common stock – basic
$ 586
$ 589
$ 1,652
$ 1,597
Class B common stock – diluted
$ 586
$ 589
$ 1,651
$ 1,597
Weighted average shares outstanding – Basic
Class A common stock
46,189,049
46,189,068
46,188,978
46,189,012
Class B common stock
2,542
2,542
2,542
2,542
Weighted average shares outstanding – Diluted
Class A common stock
52,300,931
52,305,599
52,299,936
52,304,797
Class B common stock
2,542
2,542
2,542
2,542
Dividends declared per share
Class A common stock
$ 1.4625
$ 1.365
$ 4.3875
$ 4.095
Class B common stock
$ 219.375
$ 204.75
$ 658.125
$ 614.25
Erie Indemnity Company
Consolidated Statements of Financial Position
(in thousands)
September 30,
2026
December 31,
2025
(Unaudited)
Assets
Current assets:
Cash and cash equivalents (includes restricted cash of $39,764 and $30,189, respectively)
$ 362,688
$ 345,874
Available-for-sale securities
60,913
33,902
Available-for-sale securities lent
0
3,436
Receivables from Erie Insurance Exchange and affiliates, net
781,239
735,589
Prepaid expenses and other current assets, net
93,190
66,061
Accrued investment income
14,853
14,311
Total current assets
1,312,883
1,199,173
Available-for-sale securities, net
1,308,211
1,286,566
Equity securities
152,674
70,624
Available-for-sale and equity securities lent
56,373
61,063
Fixed assets, net
594,183
571,476
Agent loans, net
99,708
93,953
Defined benefit pension plan
87,575
24,137
Other assets, net
50,889
48,489
Total assets
$ 3,662,496
$ 3,355,481
Liabilities and shareholders' equity
Current liabilities:
Commissions payable
$ 452,559
$ 425,320
Agent incentive compensation
161,335
132,560
Accounts payable and accrued liabilities
207,405
200,701
Dividends payable
68,109
68,109
Contract liability
49,049
47,561
Deferred executive compensation
12,450
9,400
Securities lending payable
54,307
61,936
Total current liabilities
1,005,214
945,587
Defined benefit pension plan
35,382
33,410
Contract liability
23,307
23,274
Deferred executive compensation
19,874
22,050
Deferred income taxes, net
11,172
24,788
Other long-term liabilities
14,837
22,998
Total liabilities
1,109,786
1,072,107
Shareholders' equity
2,552,710
2,283,374
Total liabilities and shareholders' equity
$ 3,662,496
$ 3,355,481
SOURCE Erie Indemnity Company