Torchmark Earned $1.47 per Share

After the closing bell, Torchmark (TMK) reported Q1 net operating earnings of $1.47 per share. That’s up from $1.15 per share one year ago. Wall Street had been expecting $1.45 per share. Here are some highlights:

Net income as an ROE(1) was 11.5%. Net operating income as an ROE excluding net unrealized gains on fixed maturities(1) was 14.6%.
Life underwriting margins increased over the year-ago quarter by 7% and health underwriting margins increased over the year-ago quarter by 9%.
Life premiums increased over the year-ago quarter by 9% at American Income and health premiums increased by 8% at Family Heritage.
Net health sales increased over the year-ago quarter by 11%.
Average producing agent counts increased over the year-ago quarter by 15% at Liberty National and 11% at Family Heritage.
1.0 million shares of common stock were repurchased during the quarter.
(1) Includes the impact of the change in the corporate income tax rate from 35% to 21% due to the recent tax reform. See further discussion of the tax reform on page 2.

The company sees full-year net operating income ranging between $5.93 and $6.07. Wall Street had been expecting $6.03 per share.

Posted by on April 18th, 2018 at 4:15 pm


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