earnings
confidence high
sentiment negative
materiality 0.80
Horace Mann Q2 net loss $0.30/sh; core loss $0.01 on catastrophes and inflation
HORACE MANN EDUCATORS CORP /DE/
2022-Q2 EPS reported
$0.05
revenue$693,100,000
- Net loss of $12.5M ($0.30 diluted EPS); core loss $0.3M ($0.01 per share).
- P&C combined ratio 126.9% driven by $45.7M catastrophe losses from 22 severe weather events.
- Auto underlying loss ratio rose 8.9 pts to 76.9% due to inflation and increased loss severity.
- Net investment income fell to $7.7M from $21.7M on equity market declines in limited partnership funds.
- Full-year 2022 core EPS guidance raised to $2.15-$2.35; $24M used to repurchase 670,816 shares YTD.