Primerica Q2 adjusted EPS beats estimates
Overview
Primerica Q2 adjusted rev rises 7%, beating analyst expectations, per LSEG data
Adjusted EPS for Q2 beats estimates, per LSEG data
ISP sales up 15%, client asset values reach record $120 bln
Outlook
Company remains confident in sales force amid economic uncertainty
Result Drivers
ISP GROWTH - Investment and Savings Products sales rose 15%, with client asset values reaching a record $120 bln
TERM LIFE PREMIUMS - Term Life adjusted direct premiums increased 5%, supporting a 3% rise in revenues
SALES FORCE EXPANSION - Life-licensed sales force grew 5% year-over-year, reaching 152,592 representatives
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Adjusted Revenue | Beat | $796 mln | $787.60 mln (6 Analysts) |
Q2 Adjusted EPS | Beat | $5.46 | $5.21 (10 Analysts) |
Q2 EPS | $5.4 | ||
Q2 Net Income | $178.30 mln | ||
Q2 Adjusted operating income | $180.40 mln | ||
Q2 ROE | 31.3% |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "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 $297.00, about 11.1% above its August 5 closing price of $264.05
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago
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