Primerica (PRI) Tops Q3 EPS by 7c, Revenues Beat
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Primerica (NYSE: PRI) reported Q3 EPS of $1.93, $0.07 better than the analyst estimate of $1.86. Revenue for the quarter came in at $484.8 million versus the consensus estimate of $479.75 million.
- 5% increase in life insurance licensed representatives to 130,658
- 13% growth in Term Life net premiums
- 23% increase in Investment and Savings Products (ISP) sales
- 33% growth in net earnings per diluted share (EPS) to $1.94 and 32% growth in adjusted operating EPS to $1.93
- 23.9% net income return on stockholders’ equity (ROE) and 23.7% adjusted net operating income return on adjusted stockholders’ equity (ROAE)
- Declared dividend of $0.25 per share, payable on December 14, 2018
Glenn Williams, Chief Executive Officer, said, “The power of our franchise was evident in the third quarter with top-line growth in each of our businesses. The tremendous sales growth achieved in our Investment and Savings Products segment was a highlight of the quarter. The performance of our two complementary businesses combined with capital deployment and the benefit of Tax Reform delivered a 33% increase in EPS year-over-year and 23.9% ROE in the third quarter. We remain focused on executing initiatives to drive growth in order to deliver long-term value to our clients, representatives and stockholders.”
For earnings history and earnings-related data on Primerica (PRI) click here.
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