earnings
confidence high
sentiment negative
materiality 0.80
Horace Mann pre-announces Q2 loss, cuts FY2022 core EPS guidance to $2.10-$2.30
HORACE MANN EDUCATORS CORP /DE/
2022-Q2 EPS reported
$0.05
revenue$693,100,000
- Q2 catastrophe losses approx $44M-$47M pretax; Q2 core EPS loss of $0.10-$0.20.
- FY2022 core EPS guidance lowered to $2.10-$2.30; P&C segment core earnings now $10M-$14M (from $44M-$48M).
- Life & Retirement core earnings guidance cut to $56M-$59M (from $74M-$77M) due to equity market DAC unlocking.
- Adding $6M pretax to P&C reserves for inflation; full-year net investment income at low end of $310M-$320M.
- Board authorized new $50M share repurchase plan; $14M used in first half 2022 to buy 375K shares.