Unum Group Q1 net income $358.3M ($1.80 EPS); raises FY2023 outlook to 20-25% growth

Unum Group

2023-Q1 EPS reported $1.80 revenue$3,036,100,000

Net income $358.3M ($1.80 diluted EPS); after-tax adjusted operating income $372.6M ($1.87), up from $271.4M ($1.33) YoY.
FY2023 adjusted EPS outlook raised to +20-25% (prior +8-12%), or +10-15% on consistent ASU basis.
Unum US segment adjusted operating income jumped 85.7% to $312.5M, driven by group disability (benefit ratio 60% vs 74%).
Core operations sales up 18.9%; premium up ~4% constant currency; holding company liquidity $1.34B.
Book value per share $46.85 (+37.3% YoY); book ex-AOCI $62.88 (+12.1%); repurchased 1.3M shares for $53.6M.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Unum Group reported the first quarter of 2023 results: net income $358.3 million ($1.80 per diluted common share), EPS $1.80 per diluted common share. Guidance raised.

Period: the first quarter of 2023
Net income: $358.3 million ($1.80 per diluted common share)
EPS: $1.80 per diluted common share
Guidance: raised
Result: reported results

Exact text from the filing

Unum Group Reports First Quarter 2023 Results • Net income of $358.3 million ($1.80 per diluted common share) for the first quarter of 2023; after-tax adjusted operating income was $372.6 million ($1.87 per diluted common share). • Full-year 2023 outlook increased following strong first quarter and underlying trends; Previous outlook of an increase in after-tax adjusted operating income per share of 8 percent to 12 percent increased to 20 percent to 25 percent when comparing to historically reported 2022 results, or an increase of 10 percent to 15 percent on a consistent basis under ASU 2018-12.

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Source: SEC EDGAR

accession 0000005513-23-000122

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