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Financial services distributor Primerica's Q3 adjusted EPS beats on investment sales strength

By Reuters News


Overview

  • US financial services distributor's Q3 revenue rose 7% yr/yr

  • Adjusted EPS for Q3 rose and beat analyst expectations

  • Company returned $159 mln to shareholders via buybacks and dividends


Outlook

  • Company did not provide specific financial guidance for upcoming quarters or full year in the press release


Result Drivers

  • INVESTMENT SALES GROWTH - Co said record investment and savings product sales and higher client asset values, supported by strong client demand, expanded offerings, and favorable equity markets, drove results

  • TERM LIFE STABILITY - Co said stable earnings in its Term Life segment contributed to overall performance, supported by its large in-force policy block

  • ACTUARIAL ASSUMPTION CHANGES - Qtr included impact from annual actuarial assumption changes, which affected segment results


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Adjusted EPS

Beat

$6.77

$6.38 (8 Analysts)

Q3 EPS

$6.76

Q3 Net Income

$209.13 mln


Analyst Coverage

  • The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the life & health insurance peer group is "buy."

  • Wall Street's median 12-month price target for Primerica, Inc. is $318.00, about 13.5% above its November 3 closing price of $280.23

  • The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 12 three months ago


Reuters Recommended Reads

  • Nov 2 - Equitable Holdings Q3 adjusted EPS jumps 44%, beats estimates

  • Nov 2 - Voya Financial Q3 adjusted EPS beats estimates; boosts dividend, buyback

  • Nov 3 - Jackson Financial Q3 retail annuity sales rise 22%, hitting record


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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