Unum Q4 2023 Earnings Report
Key Takeaways
Unum Group reported net income of $330.6 million for Q4 2023, compared to $289.2 million for Q4 2022. The company saw robust margins and growth momentum, supported by the favorable operating environment. Positive business trends are expected to continue into 2024.
Net income for the fourth quarter of 2023 was $330.6 million ($1.69 per diluted common share); after-tax adjusted operating income was $350.5 million ($1.79 per diluted common share).
Full year and fourth quarter results reflect robust margins and growth momentum, supported by the favorable operating environment.
Core operations premium growth of 5.2 percent on a constant currency basis and full year after-tax adjusted operating earnings per share growth of 23.3 percent when comparing to historically reported 2022.
Positive business trends expected to continue into 2024 with outlook for core operations premium growth of 5 percent to 7 percent and after-tax adjusted operating earnings per share growth of 7 percent to 9 percent.
Unum
Unum
Unum Revenue by Segment
Forward Guidance
Full-year 2024 outlook of an increase in after-tax adjusted operating income per share of seven percent to nine percent when comparing full-year 2023.
Positive Outlook
- Increase in after-tax adjusted operating income per share of seven percent to nine percent when comparing full-year 2023
Revenue & Expenses
Visualization of income flow from segment revenue to net income