Primerica (PRI) Tops Q4 EPS by 12c, Revenues Miss

Primerica (NYSE: PRI) reported Q4 EPS of $2.01, $0.12 better than the analyst estimate of $1.89. Revenue for the quarter came in at $488.7 million versus the consensus estimate of $490.2 million.

• Life insurance licensed representatives increase 4% to 130,736
• Term Life net premiums grow 11%
• Investment and Savings Products sales increase 8%
• Net earnings per diluted share (EPS) of $1.99; return on stockholders’ equity (ROE) of 23.8%
• Adjusted operating EPS of $2.01; adjusted net operating income return on adjusted stockholders’ equity (ROAE) of 24.0%
• Board of Directors approves share repurchase program totaling $275 million; $225 million in repurchases expected in 2019
• Board of Directors approves 36% increase in dividends to $0.34 per share, payable March 15, 2019

“In 2018, we delivered double-digit revenue growth and maintained our commitment to capital deployment,” said Glenn Williams, Chief Executive Officer. “Our sales force remains focused on our mission to help middle-income families achieve financial security. To support this effort, we continue to improve our products and technology to enhance the client experience and expand distribution capabilities for our representatives. We enter 2019 with a renewed level of energy and anticipation for success during a year that includes our biennial convention.”

For earnings history and earnings-related data on Primerica (PRI) click here.

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