Primerica Q4 2021 Earnings Report
Key Takeaways
Primerica reported a 21% increase in total revenues, reaching $724.1 million, and a 20% increase in diluted adjusted operating EPS to $2.94. The company faced headwinds in its Senior Health segment, resulting in a $76 million goodwill impairment charge. The Board of Directors approved an increase of $50 million to the share repurchase program.
Total revenues increased by 21% to $724.1 million compared to Q4 2020.
Diluted adjusted operating EPS rose by 20% to $2.94.
A preliminary non-cash goodwill impairment charge of $76 million was recorded in the Senior Health segment.
The Board of Directors approved an additional $50 million for share repurchases.
Primerica
Primerica
Primerica Revenue by Segment
Forward Guidance
The board of directors has authorized the repurchase of an additional $50 million of the company’s common stock, bringing the total amount authorized through December 2022 to $325 million, of which $19 million was deployed during the fourth quarter of 2021. In addition, as announced on February 8, 2022, the board of directors has approved an increase of 17% in stockholder dividends to $0.55 per share, payable on March 14, 2022, to stockholders of record on February 22, 2022.
Positive Outlook
- Board authorized repurchase of an additional $50 million of common stock.
- Total amount authorized through December 2022 to $325 million.
- $19 million was deployed during the fourth quarter of 2021.
- Board approved an increase of 17% in stockholder dividends to $0.55 per share.
- Dividends payable on March 14, 2022, to stockholders of record on February 22, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income