Primerica, Inc. (NYSE:PRI) 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. Shares are down 0.49%.
Primerica, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.23% to $0.74 in the quarter versus EPS of $0.71 in the year-earlier quarter.
Revenue: Rose 3.92% to $312.31 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Primerica, Inc. reported adjusted EPS income of $0.74 per share. By that measure, the company beat the mean analyst estimate of $0.72. It missed the average revenue estimate of $317.7 million.
Quoting Management: Rick Williams, Chairman of the Board and Co-Chief Executive Officer said, “Second quarter results reflect our focus on driving long-term, organic growth as well as share repurchases. Enhancements made to our Investment and Savings Products business continued to gain traction with a 10% increase in ISP sales in the second quarter. Our $155 million retirement of shares and warrants in June was accretive to earnings per share and drove ROAE to 14.6%.”
Key Stats (on next page)…