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Mar 31, 2023
Unum Q1 2023 Earnings Report
Unum Group reported strong first quarter results driven by sales and premium growth across core operations and performance of group disability business.
Key Takeaways
Unum Group reported a net income of $358.3 million, or $1.80 per diluted share, for Q1 2023. After-tax adjusted operating income was $372.6 million, or $1.87 per diluted share. The company increased its full-year 2023 outlook following a strong first quarter.
Net income of $358.3 million ($1.80 per diluted common share) for the first quarter of 2023; after-tax adjusted operating income was $372.6 million ($1.87 per diluted common share).
Full-year 2023 outlook increased following strong first quarter and underlying trends; Previous outlook of an increase in after-tax adjusted operating income per share of 8 percent to 12 percent increased to 20 percent to 25 percent when comparing to historically reported 2022 results, or an increase of 10 percent to 15 percent on a consistent basis under ASU 2018-12.
Positive top-line trends with core operations sales growth of 18.9 percent and premium growth of nearly 4 percent on a constant currency basis.
Solid balance sheet and liquidity with holding company liquidity of $1.3 billion and weighted average risk-based capital ratio of approximately 425 percent.
Revenue by Segment
Forward Guidance
Full-year 2023 outlook increased following strong first quarter and underlying trends. Previous outlook of an increase in after-tax adjusted operating income per share of 8 percent to 12 percent when comparing historically reported 2022 results to expected 2023 results under ASU 2018-12, increased to 20 percent to 25 percent, or an increase of 10 percent to 15 percent on a consistent basis under ASU 2018-12.
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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