Horace Mann cuts FY 2024 core EPS guidance to $2.40-$2.70 on lower investment income

HORACE MANN EDUCATORS CORP /DE/

2024-Q2 EPS reported $0.73 revenue$774,100,000

Q2 2024 core EPS expected $0.18-$0.20; full-year guidance lowered from prior range due to commercial mortgage loan fund mark-to-market valuation adjustments.
Life & Retirement segment full-year earnings revised to $50-$56M; P&C segment guidance narrowed to $36-$39M with catastrophe losses of $40-$42M pretax in Q2.
P&C sales increased more than 30% in Q2; new money yields exceeded book yield by 163 bps at quarter-end.
Supplemental & Group Benefits full-year earnings estimate raised to $49-$52M on lower-than-expected benefits utilization.

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