UPDATE: Phoenix Cos. (PNX) Reports Q3 Loss of $2.49/Share

Phoenix Cos. (NYSE: PNX) reported Q3 EPS of ($2.49), versus ($5.71) reported last year. Revenue for the quarter came in at $416.8 million, versus $421.2 million reported last year.

• Expenses relating to the restatement and SEC reporting catch up of $18.1 million incurred and 2014 audit fees of $6.3 million accrued during the second quarter of 2014.
• Modestly unfavorable mortality in the universal life block in the quarter, although in line with expectations for the first half of 2014.
• A continued low level of impairments and a $18.4 million tax benefit recorded in accordance with U.S. GAAP intraperiod tax allocation rules partially offsetting the negative performance.

For earnings history and earnings-related data on Phoenix Cos. (PNX) click here.

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