Groowe Groowe BETA / Newsroom
⏱ News is delayed by 15 minutes. Sign in for real-time access. Sign in

Erie Indemnity Reports Third Quarter 2026 Results

prnewswire.com

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