The Allstate Stock Earnings Reports

Allstate reported an excellent Q1 2026: total revenue rose to $16.9B (+3%), investment income grew ~10% to $938M, adjusted net income was $2.8B ($10.65/share), and trailing-12-month net income ROE was 48.4%. Property-Liability performed strongly: recorded combined ratio 82.0% and underlying combined ratio 80.3% (a 2.8-pt improvement YoY). Policies in force increased ~2.3–2.6% (auto 2.6%, homeowners 2.5%), with market share gains in many states (auto share up in 29 states; homeowners share expansion in 41 states). Prior-year reserve development was favorable—especially for 2023–2024—improving reported combined ratios. Investment portfolio book value is up ~24% year over year; returns have been attractive across asset classes and the company increased capital allocated to investments. Protection Services revenue grew ~7% and remains profitable. Management emphasized a multi‑lever growth strategy (pricing plus expense control, analytics, new products, bundling and distribution) and continued technology/AI investment (ALLIE/agentic AI) to lower costs and improve customer experience. Capital deployment: $881M returned in Q1 via buybacks/dividends, completion of a $1.5B repurchase program, and launch of a new $4B repurchase authorization (approximately $3.6B remaining). Management reiterated disciplined, state‑by‑state pricing and underwriting, active reserving governance, and a dynamic but governed approach to investment and capital allocation.