earnings
confidence high
sentiment negative
materiality 0.70
CNO Q1 net income $112.3M ($0.93/sh); operating EPS $0.42; annuity premiums up 13%
CNO Financial Group, Inc.
2022-Q1 EPS reported
$0.93
revenue$842,900,000
- Net income $112.3M ($0.93 diluted EPS) vs $147.4M ($1.08) in 1Q21; net operating income $51.1M ($0.42) vs $75.2M ($0.55).
- Annuity collected premiums rose 13% to $368.6M; total NAP up 2% to $90.6M; direct-to-consumer life NAP up 16%.
- Returned $116.1M to shareholders ($100M share repurchases, $16.1M dividends); share count reduced 11% YoY.
- Book value per diluted share ex AOCI $27.70 (+12% YoY); operating ROE ex AOCI 11.2%.
- Earnings pressured by market volatility, $15M decline in variable investment income, and normalization of COVID claims.