Unum Group (NYSE:UNM) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Unum Group Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.8% to $0.82 in the quarter versus EPS of $0.79 in the year-earlier quarter.
Revenue: Decreased 0.65% to $2.6 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Unum Group reported adjusted EPS income of $0.82 per share. By that measure, the company beat the mean analyst estimate of $0.80. It missed the average revenue estimate of $2.61 billion.
Quoting Management: “Driven primarily by very good risk results across our core business lines, operating performance in the second quarter remained strong with solid returns in our core business segments. I am also encouraged by the performance we are seeing in those areas which had been operating below our expectations, especially in our Unum UK segment where the repricing actions we are taking are beginning to emerge in our results,” said Thomas R. Watjen, president and chief executive officer. “While sales growth continues to be a challenge in the US, we remain committed to maintaining the pricing and underwriting discipline that has served us so well in the past. Although the environment is expected to gradually improve, it still remains challenging, and we will continue to take the actions necessary to maintain the momentum we have worked so hard to create at the Company.”
Key Stats (on next page)…