Overview
Primerica Q2 adjusted rev rises 7%, beating analyst expectations, per LSEG data
Adjusted EPS for Q2 beats estimates, per LSEG data
ISP sales up 15%, client asset values reach record $120 bln
Outlook
Company remains confident in sales force amid economic uncertainty
Result Drivers
ISP GROWTH - Investment and Savings Products sales rose 15%, with client asset values reaching a record $120 bln
TERM LIFE PREMIUMS - Term Life adjusted direct premiums increased 5%, supporting a 3% rise in revenues
SALES FORCE EXPANSION - Life-licensed sales force grew 5% year-over-year, reaching 152,592 representatives
Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted Revenue
Beat
$796 mln
$787.60 mln (6 Analysts)
Q2 Adjusted EPS
Beat
$5.46
$5.21 (10 Analysts)
Q2 EPS
$5.4
Q2 Net Income
$178.30 mln
Q2 Adjusted operating income
$180.40 mln
Q2 ROE
31.3%
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "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 $297.00, about 11.1% above its August 5 closing price of $264.05
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
Press Release: ID:nBw6wN7rTa
(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.)