Overview
U.S. financial services distributor's Q1 adjusted revenue rose 9%, beating analyst expectations
Adjusted EPS for Q1 increased 19%, beating analyst expectations
Company repurchased $135 mln of common stock during the quarter
Outlook
Primerica sees continued momentum in Investment and Savings Products segment
Result Drivers
ISP SALES MOMENTUM - Record Investment and Savings Products sales and higher client asset values drove revenue growth, supported by broad product offering and favorable equity markets
TERM LIFE STABILITY - Term Life business contributed stable results, driven by large in-force block of policies, despite declines in new policy issuance and recruiting
INVESTED ASSET PORTFOLIO - Higher net investment income reduced losses in Corporate and Other Distributed Products segment
Company press release: ID:nBw63Nyv8a
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted Revenue
Beat
$872.30 mln
$855.41 mln (4 Analysts)
Q1 Adjusted EPS
Beat
$5.96
$5.48 (8 Analysts)
Q1 EPS
$5.97
Q1 Net Income
$190.10 mln
Q1 Adjusted operating income
$189.80 mln
Q1 ROE
30.60%
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 5 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the life & health insurance peer group is "buy."
Wall Street's median 12-month price target for Primerica Inc is $302.50, about 9% above its May 5 closing price of $277.47
The stock recently traded at 11 times the next 12-month earnings vs. a P/E of 11 three months ago
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)