Torchmark Corp. (TMK) Tops Q1 EPS by 4c, Revenues In-Line; Offers FY18 EPS Mid-Point Outlook Below Consensus

Torchmark Corp. (NYSE: TMK) reported Q1 EPS of $1.49, $0.04 better than the analyst estimate of $1.45. Revenue for the quarter came in at $1.07 billion versus the consensus estimate of $1.07 billion.

HIGHLIGHTS:

• Net income as an ROE(1) was 11.5%. Net operating income as an ROE excluding net unrealized gains on fixed maturities(1) was 14.6%.
• Life underwriting margins increased over the year-ago quarter by 7% and health underwriting margins increased over the year-ago quarter by 9%.
• Life premiums increased over the year-ago quarter by 9% at American Income and health premiums increased by 8% at Family Heritage.
• Net health sales increased over the year-ago quarter by 11%.
• Average producing agent counts increased over the year-ago quarter by 15% at Liberty National and 11% at Family Heritage.
• 1.0 million shares of common stock were repurchased during the quarter.

EARNINGS GUIDANCE FOR THE YEAR ENDING DECEMBER 31, 2018:

Torchmark projects that net operating income per share will be in the range of $5.93 to $6.07 for the year ending December 31, 2018.

GUIDANCE:

Torchmark Corp. sees FY2018 EPS of $5.93-$6.07, versus the consensus of $6.03.

For earnings history and earnings-related data on Torchmark Corp. (TMK) click here.

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