CNO Financial Group (CNO) Tops Q1 EPS by 3c, Beat on Revenues

CNO Financial Group (NYSE: CNO) reported Q1 EPS of $0.34, $0.03 better than the analyst estimate of $0.31. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1 billion.

First Quarter 2017 Highlights

• First-year collected premiums: $345.3 million, up 5% from 1Q16
• Total collected premiums: $940.0 million, up 5% from 1Q16
• New annualized premium (\"NAP\") (2) for life and health products: $91.3 million, down 3% from 1Q16
• Annuity collected premiums: $257.7 million, up 10% from 1Q16
• Annuity account values: $8.3 billion, up 3% from 1Q16
• Policies inforce of 3.5 million (including third party policies inforce), up .3% from 1Q16
• Net income per diluted share: 36 cents in 1Q17 compared to 25 cents in 1Q16
• Net operating income (1) per diluted share: 34 cents in 1Q17 compared to 27 cents in 1Q16
• Book value per common share increased to $26.77 from $25.82 at December 31, 2016
• Book value per diluted share, excluding accumulated other comprehensive income (loss) (3), increased to $22.31 from $22.02 at December 31, 2016
• Unrestricted cash and investments held by our holding company were $314 million at March 31, 2017 compared to $264 million at December 31, 2016
• Common stock repurchases of $43.0 million and dividends of $14.0 million in 1Q17
• Consolidated risk-based capital ratio was estimated at 446% at March 31, 2017, reflecting estimated statutory operating earnings of $70 million and insurance company dividends to the holding company of $128.4 million during the first three months of 2017

For earnings history and earnings-related data on CNO Financial Group (CNO) click here.

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