Primerica (PRI) Tops Q4 EPS by 11c, Revenues Beat

Primerica (NYSE: PRI) reported Q4 EPS of $2.22, $0.11 better than the analyst estimate of $2.11. Revenue for the quarter came in at $530.94 million versus the consensus estimate of $526.66 million.

• Investment and Savings Products sales hit a new record at $2 billion; client asset values also reach record level at $71 billion
• Term Life Insurance net premiums grow 9%; adjusted direct premiums grow 10%
• Net earnings per diluted share (EPS) of $2.24, up 13%; return on stockholders’ equity (ROE) of 23.0%
• Diluted adjusted operating EPS of $2.22, up 10%; adjusted net operating income return on adjusted stockholders’ equity (ROAE) of 23.7%
• Board of Directors approves share repurchase program totaling $300 million through June 2021; $250 million in repurchases expected in 2020
• Board of Directors approves 18% increase in dividends to $0.40 per share, payable on March 16, 2020

“During 2019, we set new records in investment product sales and client asset values. The solid financial results in both our Term Life and ISP segments drove record revenues and net income and we are beginning to see momentum in distribution,” said Glenn Williams, Chief Executive Officer. “As we begin 2020, we are well positioned to deliver strong value to our clients, our field and our stockholders.”

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

You May Also Be Interested In

• American Express (AXP) down despite beating Q1 estimates on top and bottom lines
• Prysmian SpA (PRY:IM) (PRYMY) PT Raised to EUR53 at HSBC
• Senesco Technologies, Inc. (SNT) Reports Q1 EPS of $0.02