earnings
confidence high
sentiment positive
materiality 0.75
CNO Financial Q3 net operating income $1.11 EPS, up 26% YoY; raises full-year guidance
CNO Financial Group, Inc.
2024-Q3 EPS reported
$2.18
revenue$3,352,300,000
- Net operating income of $1.11/dil share vs $0.88 YoY; GAAP net income $0.09 due to non-economic accounting impacts (market volatility, FIA embedded derivative changes).
- Record annuity collected premiums up 25%; Medicare Supplement NAP up 15%, Medicare Advantage sales up 26%.
- Repurchased $90M of stock (2.8M shares at $32.03); returned $106.8M total to shareholders in Q3.
- Raising full-year guidance for earnings and cash flow; producing agent counts up 5%-17% across divisions.
- Book value per diluted share ex AOCI $35.84; statutory RBC ratio estimated at 388%.