Globe Life Beats Earnings

After the bell, Globe Life (GL) reported Q3 net operating income of $1.73 per share, compared with $1.59 per share for the year-ago quarter. Wall Street had been expecting $1.69 per share. Here are some highlights:

• Net income as an ROE was 12.0%. Net operating income as an ROE excluding net unrealized gains on fixed maturities was 14.7%.

• Life underwriting margin at Liberty National Exclusive Agency and American Income Exclusive Agency increased over the year-ago quarter by 12% and 9%, respectively.

• Health underwriting margin at Family Heritage Exclusive Agency increased over the year-ago quarter by 12%.

• Life premiums increased over the year-ago quarter by 7% at American Income Exclusive Agency and health premiums increased over the year-ago quarter by 7% at both Family Heritage Exclusive Agency and American Income Exclusive Agency.

• Life net sales at Liberty National Exclusive Agency and American Income Exclusive Agency increased over the year-ago quarter by 12% and 9%, respectively.

• 932,946 shares of common stock were repurchased during the quarter.

Posted by on October 23rd, 2019 at 5:23 pm


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