Unum Q1 2022 Earnings Report
Key Takeaways
Unum Group reported a net income of $253.5 million for Q1 2022, compared to $153.0 million in Q1 2021. After-tax adjusted operating income was $277.3 million, compared to $212.0 million in the prior year quarter. The company increased its full-year 2022 outlook, expecting after-tax adjusted operating income per share to grow 15% to 20%.
Net income for Q1 2022 was $253.5 million ($1.25 per diluted common share).
After-tax adjusted operating income was $277.3 million ($1.36 per diluted common share).
The company saw improving trends in COVID-related mortality impacts and strong operating performance.
Full-year 2022 outlook increased; after-tax adjusted operating income per share now expected to grow 15 percent to 20 percent relative to full-year 2021.
Unum
Unum
Unum Revenue by Segment
Forward Guidance
The Company expects positive operating trends in our core business during 2022, with solid premium growth and improving claim experience as impacts from COVID-19 lessen. The Company also anticipates an increase in after-tax adjusted operating income per share of 15 percent to 20 percent relative to full-year 2021, compared to its previous outlook of an increase of 4 percent to 7 percent.
Positive Outlook
- Positive operating trends in our core business during 2022.
- Solid premium growth
- Improving claim experience as impacts from COVID-19 lessen.
- Increase in after-tax adjusted operating income per share of 15 percent to 20 percent relative to full-year 2021.
- The increased expectation reflects the Company's strong first quarter performance and an improved outlook for the balance of 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income