Allstate's second quarter revenue of $18.6B and EPS of $8.99 substantially beat estimates, driven by strong underwriting profitability.

Allstate reported second quarter 2026 revenues of $18.6 billion, an 11.8% increase from the prior year, with adjusted net income per share of $8.99. These results significantly exceeded analyst expectations, primarily due to improved underwriting performance and strong investment income.

Key Highlights

• The Property-Liability segment's recorded combined ratio improved by 4.5 points year-over-year to 86.6, beating the consensus estimate of 89.5% and indicating strong underwriting profitability.
• Property-Liability underwriting income increased 56.7% to $2.0 billion, driven by lower catastrophe losses and higher earned premiums.
• Net investment income grew 33.8% to $1.0 billion, benefiting from higher yields and strong performance-based investment results.
• The company returned $1.3 billion to shareholders during the quarter, consisting of $1.0 billion in share repurchases and $280 million in dividends.