Primerica Q2 EPS Beats by 6% on Record Investment Sales, Revenue Slightly Misses
PRI sits 39% above its 52-week low of $230.09.
Summary
Primerica's Q2 adjusted EPS of $6.41 beat consensus by 6%, driven by record investment sales and higher client asset values from favorable equity markets. Adjusted revenue of $863M slightly missed the $870.61M estimate, while net income reached $202M with a 32.1% ROE. The company repurchased $135M in stock during the quarter, continuing its aggressive capital return program. Term Life earnings were stable but new policy issuance declined, a potential headwind. This follows strong Q1 results and a recent credit facility amendment extending maturity to 2031.
At the time of this announcement, PRI was trading at $320.59 on NYSE in the Finance sector, with a market capitalization of approximately $10B. The 52-week trading range was $230.09 to $326.78. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.