Citizens Q1 net income falls to $4.9M ($0.10/share) from $6.4M, revenues up 1% to $55.9M

CITIZENS, INC.

Net income $4.9M ($0.10 diluted) vs $6.4M ($0.13) in Q1 2022, down 23%.
Total revenues $55.9M (+1% YoY); first-year premiums +24% to $4.2M.
Book value per Class A share $3.09 (+24% YoY); adjusted book value $5.41 (+10% YoY).
Adjusted operating income $7.0M vs $7.8M in Q1 2022.
Entered two new white-label distribution partnerships during Q1.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

CITIZENS, INC. reported the quarter ended March 31, 2023 results: revenue $55.9 million, net income $4.9 million, EPS $0.10 per fully diluted class A share.

Period: the quarter ended March 31, 2023
Revenue: $55.9 million
Net income: $4.9 million
EPS: $0.10 per fully diluted class A share
Result: reported results

Exact text from the filing

EX-99.1 (EX-99.1) --- Citizens Reports First Quarter 2023 Financial Results • Q1 2023 net income of $4.9 million, or $0.10 per fully diluted class A share • Total revenues of $55.9 million grew 1%, driven by new business and higher net investment income • Q1 2023 first year premiums increased 24% year-over-year, driven by growth across Life Insurance and Home

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Source: SEC EDGAR

accession 0000024090-23-000054

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