Citizens, Inc. Q2 net income rises to $6.1M from $2.5M; revenue up 9% to $58.5M

CITIZENS, INC.

Net income $6.1M ($0.12 EPS) vs $2.5M ($0.05 EPS) YoY; revenue $58.5M up 9% from $53.7M.
First year premiums grew 3% YoY (third consecutive quarter); insurance issued up 22% in H1 2023.
Book value per Class A share $2.96 (+20% YoY); book value ex-AOCI $5.55 (+12%).
Cash $21.2M, no debt; AM Best initiated rating on CICA Life subsidiary.
Adjusted operating income before taxes $6.4M vs $8.5M YoY due to higher growth-related costs.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

CITIZENS, INC. reported the second quarter ended June 30, 2023 results: revenue $58.5 million, net income $6.1 million, EPS $0.12 per fully diluted Class A share.

Period: the second quarter ended June 30, 2023
Revenue: $58.5 million
Net income: $6.1 million
EPS: $0.12 per fully diluted Class A share
Result: reported results

Exact text from the filing

to $6.1 million in Q2 2023, from $2.5 million in Q2 2022. Earnings per share increased to $0.12 in Q2 2023, from $0.05 in the year-ago quarter. • Total revenues increased to $58.5 million in Q2 2023, from $53.7 million in the year-ago quarter. • First year premiums increased 3% in Q2 2023, the third consecutive quarter of year-over-year growth in first year

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Source: SEC EDGAR

accession 0000024090-23-000092

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