earnings
confidence high
sentiment negative
materiality 0.70
Primerica Q2 net income falls 16%; adjusted EPS $2.86, down 12% YoY
Primerica, Inc.
2022-Q2 EPS reported
$4.85
revenue$1,359,909,000
- Net income $107.9M ($2.79 diluted EPS) vs $128.4M prior year; adjusted net operating income $110.7M ($2.86 adjusted EPS).
- Term Life net premiums +7% to $410.7M; excess COVID claims largely normalized at $2M in Q2.
- ISP sales $2.69B (-12%); average client assets $87.99B (-2%); Canadian segregated fund DAC amortization hurt segment income by $3.7M.
- Senior Health segment reported adjusted operating loss of $12.95M; submitted policies 19,652 (seasonally low quarter).
- Declared dividend $0.55/share (payable Sept 14); repurchased $128M of stock in Q2; new life licenses up 14%.