Protective Life Corp. (PL) Tops Q1 EPS by 4c

Protective Life Corp. (NYSE: PL) reported Q1 EPS of $1.19, $0.04 better than the analyst estimate of $1.15.

“We are pleased to report solid results across all segments in the first quarter,” said John D. Johns, Chairman, President, and CEO. “Operating earnings of $1.19 per share were up 34% over the first quarter of 2013 and exceeded our plan for the quarter by $.07 per share. Strong results in the Annuity and Stable Value lines offset the impact of unfavorable mortality in Life Marketing, Acquisitions and Annuities. While sales in Life Marketing and Annuities were below plan in the quarter, our recent sales trends have improved and we expect to see sales revert to plan as the year progresses. The MONY acquisition integration plan is on track, and the Acquisition segment reported record earnings of $61.0 million, including a strong contribution from the MONY blocks. We are off to a strong start in 2014, and we remain confident in our ability to achieve or exceed our plans for the year.”

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