Torchmark Earned $1.59 per Share for Q3

After the close, Torchmark (TMK) reported Q3 operating earnings of $1.59 per share. That beat Wall Street’s forecast of $1.53 per share. That’s up from $1.23 one year ago.

Here are some highlights from the quarter:

Net income as an ROE was 12.4%. Net operating income as an ROE excluding net unrealized gains on fixed maturities was 14.7%.

Life underwriting margins increased over the year-ago quarter by 10% and health underwriting margins increased over the year-ago quarter by 8%.

Life premiums increased over the year-ago quarter by 8% at American Income and health premiums increased over the year-ago quarter by 8% at Family Heritage.

Net health sales increased over the year-ago quarter by 15%.

Average producing agent count increased over the year-ago quarter by 6% at Family Heritage.

Approximately 877,000 shares of common stock were repurchased during the quarter.

Now for guidance. Torchmark sees 2018 earnings between $6.08 and $6.14 per share. That implies Q4 earnings of $1.51 to $1.57 per share. Wall Street had been expecting $1.56 per share.

Torchmark also gave initial guidance for next year. Torchmark sees 2019 ranging between $6.45 and $6.75 per share. The consensus on Wall Street was for $6.56 per share.

Posted by on October 24th, 2018 at 4:18 pm


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