Globe Life Earns $1.73 per Share

After the close, Globe Life (GL) reported that net operating income for the quarter was $1.73 per share compared with $1.64 per share one year ago. That was one penny above expectations.

Some highlights:

• Net income as an ROE was 9.6%. Net operating income as an ROE excluding net unrealized gains on fixed maturities was 14.1%.
• Life underwriting margin at the American Income Life Division increased over the year-ago quarter by 7%. Health underwriting margin at the Family Heritage Division increased over the year-ago quarter by 11%.
• Life premiums increased over the year-ago quarter by 7% at the American Income Life Division. Health premiums increased over the year-ago quarter by 8% at the Family Heritage Division.
• Life net sales at the American Income Life Division increased over the year-ago quarter by 9%.
• Total health net sales increased over the year-ago quarter by 9%.
• 1.6 million shares of Globe Life Inc. common stock were repurchased during the quarter.

Globe Life sees full-year EPS ranging between $6.65 and $7.15. The earlier estimate was for $7.03 to $7.23 per share.

Posted by on April 22nd, 2020 at 4:21 pm


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