earnings
confidence high
sentiment negative
materiality 0.80
Horace Mann reports Q4 net loss of $18.5M; full-year net loss $2.6M; guides 2023 core EPS $2.00-$2.30
HORACE MANN EDUCATORS CORP /DE/
2022-FY EPS reported
-$0.06
revenue$1,382,900,000
- Net loss of $18.5M ($0.45 per share) in Q4 2022; full-year net loss $2.6M ($0.06 per share) vs net income $142.8M in 2021.
- Core loss of $4.7M ($0.11 per share) in Q4; full-year core earnings $45.7M ($1.09 per share), down 69.8% YoY.
- 2023 guidance: core EPS $2.00-$2.30; core earnings $84M-$96M; managed portfolio net investment income $330M-$340M.
- Property & Casualty expects core earnings $5M-$10M in 2023; auto rate increases 18-20% over next four quarters.
- CEO Marita Zuraitis cites strong Q4 sales momentum; targets double-digit ROE in 2024.