CNO Financial (CNO) Q1 Earnings Lag Estimates, Down Y/Y
Zacks Investment Research | Apr 29, 2019 11:26PM ET
CNO Financial Group, Inc.’s (NYSE:CNO) reported first-quarter 2019 adjusted earnings per share of 41 cents missed the Zacks Consensus Estimate by 12.8%. Also, the bottom line declined 6.8% year over year. The company’s performance was negatively impacted by its Long-term care segment.
However, in the quarter under review, CNO Financial’s total revenues increased 1.5% year over year to $1023 million. Moreover, the bottom line surpassed the Zacks Consensus Estimate by 6.8%, mainly owing to total realized gain as well as fee revenues and other income.
Quarterly Operational Update
Total collected premiums were $945 million, up 1.4% from the prior-year quarter’s level, mainly driven by Bankers Life segment.
New annualized premiums for life and health products amounted to $79.8 million, up 2.2% from the year-ago period.
First-year collected premiums totaled $391.5 million, up 18% from the year-earlier quarter’s tally, primarily banking on the contribution from Bankers Life segment.
CNO Financial Group, Inc. Price, Consensus and EPS Surprise
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