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Sep 30, 2022
Primerica Q3 2022 Earnings Report
Primerica's financial performance was impacted by market volatility, leading to a decline in investment and savings product sales, while term life earnings partly offset the negative impact. The life-licensed sales force grew, and the company continued to address challenges in the senior health distribution marketplace.
Key Takeaways
Primerica reported a decrease in total revenues by 3% to $673.3 million and a net income decrease of 54% to $51.8 million compared to Q3 2021. Adjusted operating EPS increased by 1% to $3.02. The results reflect a non-cash goodwill impairment charge of $60.0 million. Despite market volatility, the company saw growth in its life-licensed sales force and continued progress in the term life insurance segment.
Life-licensed sales force grew 3% driven by strong new life licenses.
Term Life net premiums increased 6%; adjusted direct premiums increased 7%.
Investment and Savings Products sales declined 23% due to market conditions, but net client inflows remained positive at $0.7 billion.
Net earnings per diluted share decreased 51%; return on stockholders’ equity was 12.2%.
Revenue by Segment
Forward Guidance
The Company expects to complete an additional $32 million in share repurchases by the end of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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