Unum Group (NYSE: UNM) reported Q1 EPS of $1.35, $0.03 worse than the analyst estimate of $1.38. Revenue for the quarter came in at $2.87 billion versus the consensus estimate of $3.05 billion.

"While our first quarter results were solid, the emergence of the COVID-19 pandemic and resulting economic contraction have created uncertainty for both businesses and individuals worldwide. The current environment reinforces the importance of our corporate purpose, helping the working world thrive throughout life's moments, and we will remain focused on providing excellent service to people in their time of need," said Richard P. McKenney, president and chief executive officer. "Our resilient franchise, with its strong capital and liquidity position, has weathered numerous economic and business cycles successfully in the past, and we have a well-developed road map for managing through these times. The resolution we reached with the Maine Bureau of Insurance regarding funding the long-term care business will build additional margin over our best estimates and should reduce market uncertainty over the block. With our dedicated people and excellent brands and strong reputation in the benefits marketplace, we will continue to invest in our operations and expand into new areas where we can best leverage our expertise and capabilities to capture growth opportunities as the economy begins to recover."

Outlook

Due to the uncertain economic environment caused by the COVID-19 pandemic, the Company is suspending its financial guidance for the remainder of 2020.

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