Primerica (PRI) Tops Q4 EPS by 3c, Revenues Beat

Primerica (NYSE: PRI) reported Q4 EPS of $2.52, $0.03 better than the analyst estimate of $2.49. Revenue for the quarter came in at $598.3 million versus the consensus estimate of $584.01 million.

• Term Life policies issued increase 22%; a record $109 billion of face amount issued for the full-year 2020
• Investment and Savings Products sales increase 4% to $2.1 billion with ending client asset values reaching a record $82 billion
• Life-licensed sales force ends the year at 134,907 aided by ongoing COVID-19 related state licensing measures
• Net earnings per diluted share (EPS) of $2.52, up 13%; return on stockholders’ equity (ROE) of 22.5%
• Diluted adjusted operating EPS of $2.45, up 10%; adjusted net operating income return on adjusted stockholders’ equity (ROAE) of 23.4%
• Board of Directors approves share repurchase program totaling $300 million through June 2022
• Board of Directors approves 18% increase in dividends to $0.47 per share, payable on March 15, 2021

“The COVID-19 pandemic caused middle income consumers to clearly understand their need for protection today and investments for tomorrow. The adaptability of our sales force allowed us to meet those needs more than ever before,” said Glenn Williams, Chief Executive Officer. “I am very proud of how our Primerica team navigated the unique challenges of 2020 to continue to help clients achieve their financial goals.”

For earnings history and earnings-related data on Primerica (PRI) click here.

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