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Erie Indemnity Q3 earnings slip to $182M in 2026

ERIE recorded $512.8 million in net income for the first nine months, compared with $496.0 million a year earlier.

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Form Type
8-K

Rhea-AI Filing Summary

Erie Indemnity Company reported third-quarter 2026 net income of $182.0 million, or $3.48 per diluted share, compared with $182.9 million and $3.50 in 2025. For the first nine months, net income was $512.8 million, or $9.80 per diluted share, versus $496.0 million and $9.48. Operating revenue was $1,069.9 million for the quarter and $3,171.6 million for nine months, compared with $1,066.7 million and $3,116.2 million in the corresponding 2025 periods.

Operating income before taxes decreased $1.5 million, or 0.7%, in the quarter and increased $18.8 million, or 3.4%, for nine months. Management fee revenue from policy issuance and renewal services increased $21.7 million in the quarter and $92.1 million over nine months; commissions increased $24.0 million and $96.6 million, respectively. Income from investments before taxes was $19.9 million in the quarter, compared with $21.6 million, with net realized and unrealized investment losses of $5.4 million versus gains of $1.3 million. For nine months, income from investments before taxes was $64.5 million versus $60.7 million, with net realized and unrealized losses of $5.7 million versus gains of $2.3 million. Erie scheduled a pre-recorded webcast for 10:00 a.m. ET on October 30, 2026.

Positive

  • Minor pointClass A dividends declared increased to $1.4625 per share for the quarter, from $1.365.

Negative

  • None.

Filing Explained

The added balance-sheet snapshot reports Erie Indemnity had $362,688 thousand in cash and equivalents at September 30, 2026, including $39,764 thousand restricted, compared with $345,874 thousand at December 31, 2025.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Operating revenue $1,069.9 million Three months ended September 30, 2026; $1,066.7 million in 2025
Net income $182.0 million Third quarter 2026; $182.9 million in 2025
Diluted net income per Class A share $3.48 per share Third quarter 2026; $3.50 in 2025
Net income $512.8 million First nine months of 2026; $496.0 million in 2025
Net investment income $25.4 million Third quarter 2026; $21.0 million in 2025
Class A dividends declared $1.4625 per share Third quarter 2026; $1.365 per share in 2025
Management fee revenue - policy issuance and renewal services financial
"Management fee revenue - policy issuance and renewal services increased $21.7 million"
Net realized and unrealized investment (losses) gains financial
"Net realized and unrealized investment (losses) gains"
Net impairment losses recognized in earnings financial
"Net impairment losses recognized in earnings"
Administrative services reimbursement revenue financial
"Administrative services reimbursement revenue"
Operating revenue $1,069.9 million Compared with $1,066.7 million in Q3 2025
Net income $182.0 million Compared with $182.9 million in Q3 2025
Diluted net income per Class A share $3.48 per share Compared with $3.50 in Q3 2025
Nine-month net income $512.8 million Compared with $496.0 million for the first nine months of 2025
Nine-month diluted net income per Class A share $9.80 per share Compared with $9.48 for the first nine months of 2025

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much did ERIE earn in the third quarter of 2026?
Erie Indemnity reported net income of $182.0 million, or $3.48 per diluted share, for the third quarter ended September 30, 2026, compared with $182.9 million, or $3.50 per diluted share, in the third quarter of 2025.

What dividend did ERIE declare for the third quarter of 2026?
The declared dividend was $1.4625 per share for Class A common stock and $219.375 per share for Class B common stock, compared with $1.365 and $204.75, respectively, for the third quarter of 2025.

When is ERIE's third-quarter 2026 webcast?
Erie Indemnity scheduled a pre-recorded audio webcast for 10:00 a.m. ET on October 30, 2026. The company stated that it would be accessible through erieinsurance.com.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR
0000922621false00009226212026-10-292026-10-29
Top of the Form

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K
CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported):October 29, 2026

ERIE INDEMNITY COMPANY
(Exact name of registrant as specified in its charter)

Pennsylvania0-2400025-0466020
(State or other jurisdiction(Commission(IRS Employer
of incorporation)File Number)Identification No.)

100 Erie Insurance Place,Erie,Pennsylvania16530
(Address of principal executive offices)(Zip Code)

Registrant’s telephone number, including area code:814870-2000

Not applicable
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Class A common stock, stated value $0.0292 per shareERIENASDAQ Stock Market, LLC
(Title of each class)(Trading Symbol)(Name of each exchange on which registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.
Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐




Top of the Form
Item 2.02 Results of Operations and Financial Condition.

On October 29, 2026, Erie Indemnity Company (the “Company”) issued a press release announcing financial results for the quarter and nine months ended September 30, 2026. Copies of the press release and financial information are attached hereto and are incorporated herein by reference as Exhibit 99.1 and Exhibit 99.2, respectively.

On October 30, 2026 at 10:00 a.m. the Company will provide a pre-recorded Webcast that is complementary to the press release announcing financial results for the quarter and nine months ended September 30, 2026.



Item 9.01 Financial Statements and Exhibits.

Exhibit 99.1 Press Release
Exhibit 99.2 Financial Information
Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)








Top of the Form
Exhibit Index
Exhibit No.Description
99.1
Press Release
99.2
Financial Information
104Cover Page Interactive Data File (embedded within the Inline XBRL document)

Top of the Form
SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Erie Indemnity Company
  
October 29, 2026By:/s/ Julie M. Pelkowski
Name: Julie M. Pelkowski
Title: Executive Vice President & CFO


Exhibit 99.1
ex991image06302022.gif


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., October 29, 2026 - 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'263Q'2520262025
Operating income$207,382 $208,921 $578,292 $559,470 
Investment income19,877 21,554 64,549 60,690 
Other income5,496 2,286 8,317 8,094 
Income before income taxes232,755 232,761 651,158 628,254 
Income tax expense50,766 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.
•Management fee revenue - policy issuance and renewal services increased $21.7 million, or 2.6 percent, in the third quarter of 2026 compared to the third quarter of 2025.
•Management fee revenue - administrative services increased $0.9 million, or 4.7 percent, in the third quarter of 2026 compared to the third quarter of 2025.
•Cost of operations - policy issuance and renewal services
◦Commissions increased $24.0 million in the third quarter of 2026, compared to the third quarter of 2025, primarily driven by an increase in agent incentive compensation and the growth in direct and affiliated assumed written premium.
◦Non-commission expense decreased $1.1 million in the third quarter of 2026 compared to the third quarter of 2025. Personnel costs increased $1.6 million primarily due to higher healthcare costs. Sales and advertising increased $1.8 million primarily due to an increase in agent-related costs. Acquisition and underwriting support costs decreased $5.8 million primarily due to lower postage and underwriting report costs. Technology and infrastructure costs increased $6.9 million primarily due to higher costs associated with technology initiatives, including internal-use software impairments, depreciation and amortization expense, and cloud usage costs.
Administrative and other costs decreased $5.5 million primarily due to lower credit card processing fees.

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.
•Management fee revenue - policy issuance and renewal services increased $92.1 million, or 3.8 percent, in the first nine months of 2026 compared to the first nine months of 2025.
•Management fee revenue - administrative services increased $4.0 million, or 7.4 percent, in the first nine months of 2026 compared to the first nine months of 2025.
•Cost of operations - policy issuance and renewal services
◦Commissions increased $96.6 million in the first nine months of 2026 compared to the first nine months of 2025, primarily driven by an increase in agent incentive compensation and the growth in direct and affiliated assumed written premium.
◦Non-commission expense decreased $20.7 million in the first nine months of 2026 compared to the first nine months of 2025. Personnel costs increased $6.7 million primarily due to increased incentive compensation driven by stronger performance metrics, and higher base compensation. The increase is partially offset by bonuses awarded to all employees in 2025 in recognition of our 100th anniversary. Acquisition and underwriting support costs decreased $11.5 million primarily due to lower underwriting report and postage costs. Technology and infrastructure costs increased $7.4 million primarily due to higher depreciation and amortization expense from technology initiatives. Professional fees decreased $12.1 million primarily due to reduced use of third-party services related to technology initiatives. Administrative and other costs decreased $9.2 million primarily due to lower credit card processing fees and charitable contributions related to the transition of charitable giving through the Erie Insurance Foundation.

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.
1


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 10th largest homeowners insurer, 11th largest automobile insurer, and 9th 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 16th 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:
•dependence upon our relationship with the Erie Insurance Exchange ("Exchange") and the management fee under the agreement with the subscribers at the Exchange;
•dependence upon our relationship with the Exchange and the growth of the Exchange, including:
◦general business and economic conditions;
◦factors impacting the timing of premium rates charged for policies;
◦factors affecting insurance industry competition, including technological innovations;
◦dependence upon the independent agency system; and
◦ability to maintain our brand, including our reputation for customer service;
•dependence upon our relationship with the Exchange and the financial condition of the Exchange, including:
◦the Exchange's ability to maintain acceptable financial strength ratings;
◦factors affecting the quality and liquidity of the Exchange's investment portfolio;
◦changes in government regulation of the insurance industry;
◦litigation and regulatory actions;
◦emergence of significant unexpected events, including pandemics, economic or social inflation, and changes in tariff policies;
◦emerging claims and coverage issues in the industry; and
◦severe weather conditions or other catastrophic losses, including terrorism;
•costs of providing policy issuance and renewal services to the subscribers at the Exchange under the subscriber's agreement;
•ability to attract, develop, retain, and protect talented management and employees;
•ability to ensure system availability and effectively manage technology initiatives;
•difficulties with technology, data or network security breaches, including cyber attacks;
•ability to maintain uninterrupted business operations;
•compliance with complex and evolving laws and regulations and outcome of pending and potential litigation;
•factors affecting the quality and liquidity of our investment portfolio; and
•ability to meet liquidity needs and access capital.

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.
2


Exhibit 99.2
Erie Indemnity Company
Consolidated Statements of Operations
(dollars in thousands, except per share data)
Three months ended September 30,Nine months ended September 30,
2026202520262025
(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 services19,720 18,831 58,814 54,772 
Administrative services reimbursement revenue197,562 215,694 599,212 638,611 
Service agreement revenue5,655 6,939 17,340 18,675 
Total operating revenue1,069,917 1,066,739 3,171,624 3,116,235 
Operating expenses
Cost of operations - policy issuance and renewal services664,973 642,124 1,994,120 1,918,154 
Cost of operations - administrative services197,562 215,694 599,212 638,611 
Total operating expenses862,535 857,818 2,593,332 2,556,765 
Operating income207,382 208,921 578,292 559,470 
Investment income
Net investment income25,399 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 income19,877 21,554 64,549 60,690 
Other income5,496 2,286 8,317 8,094 
Income before income taxes232,755 232,761 651,158 628,254 
Income tax expense50,766 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 stock46,189,049 46,189,068 46,188,978 46,189,012 
Class B common stock2,542 2,542 2,542 2,542 
Weighted average shares outstanding – Diluted
Class A common stock52,300,931 52,305,599 52,299,936 52,304,797 
Class B common stock2,542 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 
1

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 securities60,913 33,902 
Available-for-sale securities lent0 3,436 
Receivables from Erie Insurance Exchange and affiliates, net781,239 735,589 
Prepaid expenses and other current assets, net93,190 66,061 
Accrued investment income14,853 14,311 
Total current assets1,312,883 1,199,173 
Available-for-sale securities, net1,308,211 1,286,566 
Equity securities152,674 70,624 
Available-for-sale and equity securities lent56,373 61,063 
Fixed assets, net594,183 571,476 
Agent loans, net99,708 93,953 
Defined benefit pension plan87,575 24,137 
Other assets, net50,889 48,489 
Total assets$3,662,496 $3,355,481 
Liabilities and shareholders' equity
Current liabilities:
Commissions payable$452,559 $425,320 
Agent incentive compensation161,335 132,560 
Accounts payable and accrued liabilities207,405 200,701 
Dividends payable68,109 68,109 
Contract liability49,049 47,561 
Deferred executive compensation12,450 9,400 
Securities lending payable54,307 61,936 
Total current liabilities1,005,214 945,587 
Defined benefit pension plan35,382 33,410 
Contract liability23,307 23,274 
Deferred executive compensation19,874 22,050 
Deferred income taxes, net11,172 24,788 
Other long-term liabilities14,837 22,998 
Total liabilities1,109,786 1,072,107 
Shareholders’ equity2,552,710 2,283,374 
Total liabilities and shareholders’ equity$3,662,496 $3,355,481 
2

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