Torchmark Earned $1.51 per Share

After the bell, Torchmark (TMK) reported Q2 earnings of $1.51 per share.

HIGHLIGHTS:

Net income as an ROE(1) was 12.2%. 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 9% and health underwriting margins increased over the year-ago quarter by 8%.

Life premiums increased over the year-ago quarter by 9% at American Income and health premiums increased by 8% at Family Heritage.
Average producing agent count increased over the year-ago quarter by 9% at Liberty National.

1.0 million shares of common stock were repurchased during the quarter.

Torchmark’s initial guidance for this year was $5.93 to $6.07 per share. I said I thought that was too low and that they could probably hit $6.10 per share in 2018. Well, they just upped their guidance ranged to $6.02 to $6.12 per share.

Posted by on July 25th, 2018 at 4:45 pm


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